Ankit Sharma

Quantum Energy Limited and Green Drive Mobility Join Forces to Enhance EV Adoption for Last-Mile Delivery Quantum Energy Limited, a prominent electric vehicle (EV) manufacturer renowned for its sustainability efforts, has announced a strategic partnership with Green Drive Mobility to boost EV adoption in last-mile delivery and connectivity services. According to the Memorandum of Understanding (MoU), Quantum Energy will supply 5,000 units of its Bziness EV two-wheeler model to Green Drive Mobility. The Bziness model, tailored for last-mile delivery fleets, will be available in three variants: NMC, Fast Charging, and Swapping, addressing the diverse needs and challenges of delivery companies. “The electric vehicle fleet industry in India is transforming last-mile delivery and ride-hailing operations. This partnership with Green Drive Mobility reflects our shared vision for a greener, more eco-friendly future in transportation, positively impacting fleet industry efficiency.” Chetana C., Director at Quantum Energy, highlighted the company’s commitment to sustainability, stating. Quantum Energy’s vehicles are celebrated for their innovative engineering and stylish designs. The company prides itself on producing robust, made-in-India scooters that align with its mission of making sustainable transportation accessible without compromising on quality or performance. “We are thrilled to partner with Quantum Energy Limited. This collaboration will enable us to provide our customers with state-of-the-art electric vehicles that not only reduce carbon footprints but also enhance operational efficiency.” Hari Krishna, Founder of Green Drive Mobility, expressed excitement about the partnership, saying, Green Drive Mobility, which focuses on employee transportation and delivery services, recognizes the growing trend towards electric mobility and its environmental and cost-efficiency benefits. This strategic alliance between Quantum Energy Limited and Green Drive Mobility is set to significantly advance the electric mobility revolution, establishing new industry standards. Quantum Energy Limited Quantum Energy Limited is a forward-thinking company based in Hyderabad, Telangana, India, that has been making waves in the electric vehicle (EV) industry since its inception on 19 November 2020. With a mission to drive India towards a cleaner and greener future, Quantum Energy has introduced a range of sustainable two-wheeler electric vehicles that are not only eco-friendly but also boast impressive performance metrics. Green Drive Mobility Green Drive Mobility is an innovative company that specializes in providing electric vehicle (EV) solutions for logistics transportation. Founded in 2020, their mission is to contribute to a carbon-free India by offering Tech-Enabled Full Stack EV-as-a-Service and Delivery-as-a-service Platform. They aim to revolutionize the logistics industry with their zero-emission and emission-free delivery services. Join All India EV Community Click here for more such informative insights

Volkswagen to develop low-cost electric car to tackle Chinese rivals The largest automaker in Europe, Volkswagen, announced on Tuesday that it will produce affordable electric cars in an effort to better compete with its aggressive Chinese rivals. This comes after talks to collaborate on a new project with Renault (RENA.PA) had broken down earlier this month. Volkswagen (VOWG_p.DE), opens new tab stated that the goal is to manufacture electric cars for the European market that cost about 20,000 euros ($21,746). A global debut was scheduled for 2027. Oliver Blume, the Chief Executive of Volkswagen, stated in a statement, “It is about entry-level electric mobility from Europe for Europe.” By doing this, we act in the best interests of European consumers while also demonstrating a strong commitment to Europe as an economic location and industrial strategy. The project, known as ID.1, is being launched when Chinese competitors, some of whom have a 30% cost advantage over their Western counterparts, are pushing their way into Europe to take market share and challenge top automakers there. Volkswagen stated that the project will be heavily localized in Europe, which would also contribute in lowering component transportation routes and emissions. Last week, Volkswagen warned that the industry’s viability in Europe was in jeopardy unless it gave the European market two to three years to prepare for the competitive challenge. Volkswagen is presently investing 10 billion euros’ worth of cost-cutting and savings initiatives at its eponymous brand by 2026 as part of such efforts. The projected entry-level model would set benchmarks in terms of technology, design, and quality despite its low price point, according to Thomas Schaefer, head of Volkswagen’s brand. He said that this had become more difficult because of rising expenses for labor, raw materials, and energy. “It is obvious that electromobility from Europe for Europe can only thrive in the presence of competitive framework conditions and governmental support,” Schaefer stated. Join All India EV Community Click here for more such informative insights

Lectrix EV and Jumppers Partner to Drive Sustainable Logistics with 500 Electric Vehicles In a landmark move towards eco-friendly logistics, Lectrix EV, a prominent player in India’s electric two-wheeler market, has formed a strategic partnership with FYC TECH PVT LTD, known as Jumppers. This collaboration will see Lectrix EV provide 500 electric vehicles to Jumppers, significantly boosting their capacity to meet the rising demand for sustainable delivery services. The partnership extends beyond vehicle supply, incorporating Lectrix EV’s advanced battery swapping infrastructure to improve Jumppers’ operational efficiency. This innovative swap network aims to transform last-mile delivery by enabling quick battery swaps, virtually eliminating downtime and range anxiety. Riders can expect seamless battery changes, taking less than 50 seconds on average, with swap stations conveniently placed every 5-10 kilometers. This setup ensures 24/7 energy availability, allowing riders to increase their daily earnings by Rs. 200-300 without needing charging breaks. “Our goal is to electrify transportation in India. Logistics is one of the fastest-growing sectors, and Jumppers’ work aligns with our sustainability objectives. We are pleased to support their expansion of a green fleet. This collaboration marks a significant step towards our shared vision of a sustainable future.” Pritesh Talwar, President of EV Business at Lectrix EV, highlighted the strategic synergy between the two companies. Lectrix EV’s swap network is designed for both efficiency and cost-effectiveness, with battery and energy solutions priced competitively at Rs. 1 per kilometer. The environmental benefits are substantial, with Lectrix EV’s fleet covering over 22 crore kilometers and saving 66.6 lakh kilograms of CO2 emissions, underscoring their commitment to eco-friendly transportation. “We are excited to announce that in 2024, Jumppers has expanded its fleet to over 500 vehicles through our partnership with Lectrix. This significant growth demonstrates our dedication to sustainable and efficient last-mile delivery solutions, leveraging advanced electric vehicle technology to better serve our clients.” Ajay Kumar Khandelwal, co-founder of Jumppers, expressed his enthusiasm. Jumppers’ electric fleet supports major industry players such as Blue-Dart, DHL, DTDC, Flipkart, and Smart-R, ensuring they can offer sustainable and efficient delivery solutions to these key stakeholders. This partnership sets a new standard in India’s logistics sector, showcasing the potential of innovative collaborations to drive sustainability and operational excellence. The collaboration between Lectrix EV and Jumppers signifies a milestone in India’s shift towards greener mobility, setting a precedent for partnerships that promote sustainability in the logistics sector. Join All India EV Community Click here for more such informative insights

Subaru, Toyota, and Mazda Join Forces to Innovate Carbon-Neutral Engines In a groundbreaking collaboration, Subaru Corporation, Toyota Motor Corporation, and Mazda Motor Corporation have announced their commitment to developing new engines tailored to electrification and carbon neutrality. This initiative aims to revolutionize internal combustion engines (ICEs) by making them compatible with various carbon-neutral (CN) fuels, optimizing integration with electric drive units, and transforming vehicle packaging. Leadership and Vision Key executives from the three companies, including Subaru’s President and CEO Atsushi Osaki, Toyota’s President and CEO Koji Sato, and Mazda’s President and CEO Masahiro Moro, emphasized the shared vision and dedication driving this initiative. Their collective goal is to ensure the future of supply chains, jobs, and the automotive industry as a whole by advancing sustainable technologies. Focus on Carbon-Neutral Fuels The new engines will be designed to run on a variety of carbon-neutral fuels, including synthetic fuels (e-fuels), biofuels, and liquid hydrogen. This shift away from fossil fuels aims to decarbonize ICEs and support the broader adoption of CN fuels. The engines will also meet increasingly strict emissions regulations, further contributing to environmental sustainability. Enhanced Integration and Vehicle Design In addition to improving standalone engine performance, the collaboration will focus on optimizing the integration of engines with motors, batteries, and other electric drive units. This will result in more compact and efficient engines, allowing for innovative vehicle designs with lower hoods, improved aerodynamics, and better fuel efficiency. Statements from Industry Leaders ✅ Atsushi Osaki, Subaru Corporation: “Achieving a carbon-neutral society is a challenge that must be undertaken by all of Japan’s industries and society as a whole. As we continue to refine electrification technology, we will also enhance our horizontally-opposed engines with an aim to use carbon-neutral fuels in the future.” ✅ Koji Sato, Toyota Motor Corporation: “In order to provide our customers with diverse options to achieve carbon neutrality, it is necessary to take on the challenge of evolving engines that are in tune with the energy environment of the future. The three companies, which share the same aspirations, will refine engine technologies through friendly competition.” ✅ Masahiro Moro, Mazda Motor Corporation: “We will continue to offer customers exciting cars by honing internal combustion engines for the electrification era and expanding the multi-pathway possibilities for achieving carbon neutrality. Given the rotary engine’s compatibility with electrification and carbon-neutral fuels, Mazda will continue to develop the technology through co-creation and competition to ensure it can contribute broadly to society.” This collaboration underscores a shared dedication to achieving carbon neutrality through a multi-pathway approach. Subaru, Toyota, and Mazda, while competing in the automotive market, are united in their efforts to develop sustainable engine technologies. Together with like-minded partners, they are poised to shape the future of Japan’s auto industry and contribute significantly to global carbon neutrality goals. Join All India EV Community Click here for more such informative insights

Euler Motors Successfully Closes Series C Funding Round, Raises Additional INR 200 Crore New Delhi, May 29, 2024: Euler Motors, a leading manufacturer of electric commercial vehicles, today announced the successful closure of its Series C funding round, raising an additional INR 200 crore. Internal investors including British International Investment, the UK’s development finance institution and impact investor, Blume Venture and new investor Piramal Alternatives India Access Fund led this round’s fresh infusion of funds. The company has raised INR 570 crores in total from investors in Series C. In FY24, the company sold 3700 vehicles and expanded its presence from 5 to 22 cities, establishing a strong foothold in the market. Euler Motors will utilize the fresh infusion of capital to further scale its pan-India presence and servicing infrastructure and establish a presence in 40+ cities by FY 25. Additionally, it will fuel the company’s strategic initiatives aimed at driving product development, bringing new variants, enhancing technological capabilities, and accelerating R&D efforts. “We welcome the support of both existing and new investors. Our aim is to establish Euler Motors as India’s No. 1 electric commercial vehicle brand with our powerful products and best-in-class services. Over the past 3 years, we’ve demonstrated impressive growth, gained the confidence of customers, and created a heightened demand for our products. This fresh capital injection, coupled with the trust of our investors, will propel us towards our goal of double-digit market share. With this momentum, we’re ready to accelerate our growth trajectory and lead the transition to commercial EVs in India.” Commenting on the fundraise, Saurav Kumar, Founder & CEO, Euler Motors said. “We are pleased to participate alongside other marquee investors in furthering Euler Motors’ leadership position within its target market segment. We remain enthused both by the wider EV category itself as well as our chosen sub segment in terms of last mile mobility within the commercial / logistics category and Euler Motor’s relative positioning on the back of its strong technology and R&D capability. This is also the first direct co-investment from the recently launched Piramal Alternatives India Access Fund (Fund of Funds); which enables investor access to a well-diversified portfolio of both best-in-class Funds as well as specially curated co investments across the high growth Indian private equity and late stage venture capital space.” Kalpesh Kikani, CEO, Piramal Alternatives said. “We are pleased to continue our partnership with Euler Motors to drive forward the advancement of commercial cargo electric vehicles in India. This sector of commercial cargo transportation carries considerable significance, not only in terms of job creation but also in terms of reducing emissions and supporting India’s clean energy transition. As the UK’s DFI, it aligns seamlessly with our strategic objectives to foster sustainable, and inclusive economic growth.” Abhinav Sinha, Managing Director and Head of Technology and Telecoms at British International Investment said. Euler Motors’ remarkable growth trajectory and steadfast commitment to serving the Indian market’s needs have solidified its position as a leader in the commercial electric vehicle landscape. The HiLoad EV of Euler Motors is India’s most powerful electric cargo three-wheeler, 170 km ARAI-certified range (Real Range TM 110-120 km), and a payload capacity of 688 kg, along with a proprietary liquid-cooled battery, and an inbuilt fast charging feature. Till now, Euler Motors has successfully raised an amount of INR 770 crores. About Euler Motors Founded in 2018, Euler Motors is an automotive OEM focused on electric commercial vehicles. The company is developing & deploying innovative technology solutions to democratize a swift EV transition, building EVs that are designed for India, from India. The company’s solutions are road-ready, technologically superior, and competent that has already proved their mettle across Ecommerce and 3PL businesses. With their custom made EVs, Euler Motors aims to create superior alternatives to traditional mobility for mass adoption of electric vehicles.  For more details, please visit www.eulermotors.com Join All India EV Community Click here for more such informative insights

Incharz Signs MoU with 3ECO to Develop Nationwide EV Charging Infrastructure Incharz, a leading EV charge point operator, has inked a Memorandum of Understanding (MoU) with 3ECO, a prominent manufacturer of L-3 and L-5 cargo vehicles, and an EV cargo fleet operator. This collaboration aims to develop exclusive EV charging stations for 3ECO’s fleet across India. The initiative focuses on establishing a nationwide EV charging network, strategically positioned to cater to the charging needs of 3ECO’s vehicle fleet. The EV charging stations will be capable of charging approximately 200-300 EV cargo vehicles daily, with a goal of servicing 1000 of 3ECO’s cargo vehicles by the end of 2024. This partnership is poised to accelerate the adoption of EVs, promote green mobility, and contribute to a sustainable future. As part of the agreement, 3ECO will provide fleet hubs to Incharz for the installation of EV charging stations. Incharz will handle the design, installation, operation, and maintenance of these stations across various locations in India. The charging stations will be equipped with advanced technology to ensure efficient charging. They will support multiple charging standards and be compatible with various electric vehicle models, ensuring accessibility and convenience for all users. “We are thrilled about our partnership with 3ECO. Incharz takes pride in its innovative legacy in EV charging and promoting a greener world. Through our collaboration with 3ECO and in light of their ambitious plans, we solidify our dedication to advancing innovation and sustainability in the evolving realm of electric mobility.” Neeraj Gupta, AVP Operations, Incharz commented. “This partnership also signifies our strategic pivot towards extending our reach across all major cities in India, establishing a resilient network. Our ambition extends to exploring opportunities and creating synergies with bus operators, large fleet operators and facilitating infrastructure for truck charging along highways, thereby reinforcing our position as a key player in the electrification of transportation infrastructure.” Gupta added. Join All India EV Community Click here for more such informative insights

Exide Industries Plans Rs 1,000 Crore Investment in Lithium-Ion Cell Manufacturing for FY25 Exide Industries Ltd. has announced a significant investment of approximately Rs 1,000 crore in Lithium-Ion Investment manufacturing for FY25, Exide Energy Solutions Ltd (EESL), during the current financial year. This substantial investment is part of a broader Rs 5,000 crore allocation for the first phase of a lithium-ion cell manufacturing project. EESL, which was established in 2022, represents a strategic move by Exide to venture into the burgeoning lithium-ion cell business, capitalizing on the increasing demand for electric vehicle (EV) batteries. The company is in the process of setting up a giga plant in Bengaluru with a total capacity of 12 GWh. The first phase, which encompasses 6 GWh, is anticipated to be completed by 2025. So far, Exide has already invested Rs 2,300 crore in the lithium-ion cells business, including previous investments in EESL and a pack and module-making unit. The funding for this extensive project is sourced through internal accruals and loan financing, underscoring Exide’s commitment to advancing its capabilities in the energy solutions sector. Expansion of Lithium-Ion Manufacturing Capabilities The 6 GWh capacity for the first phase will be split equally between Nickel Manganese Cobalt (NMC) batteries and Lithium Iron Phosphate (LFP) batteries, catering to diverse market needs. EESL employs over 300 professionals who are engaged in various key functions such as sales, manufacturing, R&D, IT, and finance. In addition to the Bengaluru plant, EESL operates a lithium-ion pack and module facility in Prantij, Gujarat, which has a capacity of 1.5 GWh. This facility further strengthens Exide’s position in the lithium-ion battery market. Exide Industries has formed a strategic partnership with China-based SVOLT Energy Technology Co Ltd, a leading developer and manufacturer of lithium-ion batteries and storage solutions. This partnership grants Exide the rights to utilize and commercialize SVOLT’s advanced technology and know-how, thereby enhancing its manufacturing processes and product offerings. Strategic Partnerships and Future Prospects Recently, Exide has also entered into an agreement with South Korean automakers Hyundai Motor Co and Kia Corp. This collaboration aims to supply locally produced LFP batteries for their future electric vehicles in the Indian market, showcasing Exide’s role in supporting the EV revolution in India. By aligning with major automotive players, Exide is positioning itself as a key supplier in the rapidly growing electric mobility sector. Key Takeaway: Exide Industries is making a significant investment to bolster its local manufacturing capabilities in the lithium-ion battery sector. This move is aimed at meeting the rising demand for electric vehicle batteries in India, supported by strategic partnerships and advanced technological collaborations. Join All India EV Community Click here for more such informative insights

Recyclekaro Among Four Lithium-Ion Battery Recyclers Registered on India’s EPR Portal for Battery recycling Recyclekaro, an e-waste and lithium-ion battery recycling company, has recently been registered on India’s Extended Producer Responsibility (EPR) portal for e-waste recycling. This significant development aligns Recyclekaro with other leading recyclers such as Lohum Cleantech, Attero, and LICO Materials, reflecting a robust commitment to sustainable e-waste management. The registration on the EPR portal marks a milestone in promoting efficient and responsible recycling practices in India, contributing to the broader goals of environmental sustainability. What are the EPR Portal and CPCB? The Extended Producer Responsibility (EPR) portal, managed by the Central Pollution Control Board (CPCB), is a crucial component in India’s strategy to manage e-waste. The portal is designed to connect manufacturers with certified recyclers, thereby centralizing the tracking of e-waste and streamlining the recycling processes. By providing financial incentives, the portal encourages companies to adhere to regulatory compliance and engage in sustainable practices. Additionally, the EPR portal enhances data collection on e-waste management, facilitating better policy-making and fostering innovation in recycling technologies. The Central Pollution Control Board (CPCB) plays a pivotal role in overseeing the EPR portal. It ensures that all stakeholders, including manufacturers, importers, and recyclers, comply with the established guidelines. The CPCB’s involvement guarantees that the recycling processes are conducted in an environmentally sound manner, promoting a circular economy and reducing the ecological footprint of e-waste. India’s E-Waste Statistics India is one of the largest producers of e-waste globally, generating approximately 1.71 million metric tons annually. This staggering volume of e-waste poses significant environmental and health risks if not managed properly. Despite the large quantity of e-waste generated, only about 40% was recycled last year. This low recycling rate underscores the urgent need for effective recycling infrastructure and policies. Recyclekaro’s Role As one of the four registered recyclers on the EPR portal, Recyclekaro plays a crucial role in enhancing accountability, traceability, and transparency in lithium-ion battery recycling. This registration ensures that Recyclekaro meets stringent regulatory standards and can be trusted to handle e-waste responsibly. By being part of the EPR portal, Recyclekaro contributes to a more organized and efficient recycling ecosystem. Rajesh Gupta, Founder & Director of Recyclekaro, highlighted that being among the four registered recyclers for end-to-end lithium-ion battery recycling is a significant achievement. This recognition strengthens Recyclekaro’s position in the industry and supports its mission to promote sustainable and responsible recycling practices. Recyclekaro is known for its high metal extraction efficiency, which minimizes waste and maximizes the recovery of valuable materials from used batteries. Expansion and Growth Recyclekaro’s registration on the EPR portal is just the beginning of its growth plans. The company is set to double its recycling capacity in the next fiscal year, leveraging its expertise in high metal extraction efficiency. This expansion will enable Recyclekaro to process more e-waste, contributing significantly to India’s recycling infrastructure and helping to meet the country’s sustainability targets. The inclusion of Recyclekaro in the EPR portal is a significant step towards enhancing India’s e-waste recycling infrastructure. This move supports the country’s goals of improving environmental sustainability through better management and recycling of lithium-ion batteries. As more companies follow Recyclekaro’s lead, the overall capacity and efficiency of India’s recycling industry are expected to improve, resulting in a cleaner and more sustainable environment. Moving ahead… Recyclekaro’s registration on India’s EPR portal is a landmark achievement that underscores the company’s commitment to sustainable and responsible recycling practices. By aligning with other leading recyclers and adhering to the Battery Waste Management Rules, Recyclekaro is playing a pivotal role in enhancing India’s e-waste recycling infrastructure. This development not only strengthens Recyclekaro’s position in the industry but also supports India’s broader environmental sustainability goals. As the country continues to generate significant volumes of e-waste, the efforts of companies like Recyclekaro will be crucial in ensuring that this waste is managed and recycled in an environmentally sound manner. Join All India EV Community Click here for more such informative insights