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Four Pillars of India’s EV Success: Investing in R&D

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Four Pillars of India’s EV Success: Investing in R&D The Principal Scientific Adviser to the Government of India released the e-Mobility R&D Roadmap in mid-July, outlining the critical areas requiring research and development (R&D) to drive India’s transition to electric vehicles (EV). The roadmap recommends allocating approximately ₹1,152 crore over five years. This additional funding would be a significant boost for India, which lags behind many advanced economies in terms of R&D spending. Global patent data reveals India’s relatively limited contribution to technological advancements in electrical machinery, apparatus, energy, and semiconductors. Investing heavily in R&D, particularly for electric vehicles, is a strategic move for India to develop innovative technologies, foster domestic manufacturing, reduce emissions, and enhance energy security. 1. Promoting Localization and Job Creation in India’s Electric Vehicle Industry The Indian automobile sector is a major employer, but the transition to electric vehicles (EVs) has raised concerns about job creation. While studies suggest that EV manufacturing may have lower job intensity than internal combustion engine manufacturing, this is largely due to the reliance on foreign-made components, particularly EV batteries. To address this, the government’s Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme requires 50% local manufacturing for EVs to qualify for incentives. However, this has been challenging due to the lack of a domestic hardware manufacturing base. Tier 1 suppliers have been making strides in localization, but progress among tier 2 and 3 suppliers has been slower. By investing heavily in research and development (R&D), India can accelerate battery indigenization, which will drive localization and create more jobs in the EV industry. 2. Enhancing India’s Global Competitiveness through R&D Investment India’s EV exports have surged, with neighboring Nepal accounting for 78% of exports in FY 2023-24. However, Indian automakers still lag behind global competitors in R&D spending. While leading EV manufacturers like NIO, BYD, and Tesla allocate significant portions of their revenue to R&D, Indian automakers and component manufacturers generally have lower R&D intensities. This gap can hinder India’s ability to compete in the global EV market. Government-led initiatives, including investments and incentives, can encourage the industry to increase R&D spending, particularly in critical components like semiconductors, boosting India’s global competitiveness. 3. Decarbonizing India’s Hard-to-Electrify Segments To achieve its net-zero target by 2070, India must transition to zero-emission trucks (ZETs) in its transportation sector. However, current EV technologies face limitations in terms of battery weight, charging time, and range, hindering their adoption for heavy-duty road freight. Additionally, non-road segments like tractors and construction vehicles are projected to surpass on-road vehicles in emissions by 2030. Electrifying these segments requires the development of economically competitive e-tractors that can meet the diverse needs of rural India. By investing in R&D, India can accelerate the development of innovative EV technologies tailored to Indian demands, enabling the decarbonization of hard-to-electrify segments like trucks and tractors. 4. Advancing Battery and Charging Technologies for India’s Electric Vehicle Future Batteries constitute a significant portion of an EV’s cost in India. While larger batteries may improve range, they can also increase energy consumption. R&D investments can help address these challenges by developing innovative battery systems and alternative cell chemistries to reduce costs and mitigate range anxiety. Additionally, battery swapping and wireless charging technologies can provide solutions for segments where charging time and battery weight are concerns. Research suggests that R&D investments are more effective than economies of scale in driving down battery costs. Ensuring the safety of EVs is also crucial. India has implemented strict safety standards for battery packs and systems, and there is a need to explore alternative electrolyte systems and thermal management technologies to improve the resilience of EVs in India’s hot climate. While the proposed funding in the PSA’s roadmap is a positive step, it pales in comparison to the massive R&D investments made by China, the European Union, and the United States. These regions have allocated billions of dollars to support EV research and development. India must follow suit by increasing its R&D investments and incentives to maximize the benefits of electric vehicles. This will not only create new manufacturing jobs and provide affordable and safe mobility options but also help mitigate air pollution in Indian cities. Join All India EV Community Click here for more such EV Updates

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Top 10 Electric Cycles with Gears: Under Rs. 30,000

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Top 10 Electric Cycles with Gears: Under Rs. 30,000 Electric cycles are revolutionizing the way we travel, offering a sustainable and efficient alternative to traditional transportation. Whether you’re a student commuting to school or a working professional looking for a smoother ride, an electric bike can be a great choice. These bikes not only help you avoid traffic congestion but also save you money on fuel and maintenance costs. With the growing popularity of electric cycles, the market is flooded with various options. Choosing the right e-bike can be challenging, as there are numerous factors to consider. Price, battery life, and motor power are just a few of the important aspects to evaluate when selecting an electric cycle that suits your needs and preferences. 1. Hero Lectro C3 As India’s most trusted two-wheeler brand, Hero continues to innovate. Their electric cycles, sold under the Hero Lectro brand, are leading the market. The Hero Lectro C3 is a standout, offering exceptional value at just Rs 29,000. With a range of up to 30km on a single charge, the C3 is the perfect choice for daily commutes and short trips. Specifications of Hero lectro C3 Specifications Details Price Rs.28,999 Range 30 km on a single charge Motor Type and Power BLDC hub motor 250-watt Charging Time 4 Hours Brakes Front: Disc and Rear: V Shaped Paddles Yes Self Start Yes Variant Pedal, Cruise, Pedalec & Throttle Kerb Weight 70 kg Top Speed 25 km/h Battery 0.2088 kWh Lithium ion 2. EMotorad X2 E-Motorad, renowned for its affordable and feature-rich electric bikes, has gained significant popularity in India. Endorsed by the cricket legend Mahendra Singh Dhoni, E-Motorad’s smart marketing has solidified its position as a leading brand in the electric cycle market. Among their impressive lineup, the E-Motorad X2 stands out as one of the best options under ₹30,000. Offering exceptional value and performance, the X2 has earned its place as a top contender in the electric cycle segment. Specifications of E- E-Motorad X2 Specifications Details Range 40+ km Top Speed Up to 25 km/h Battery 7.65 Ah Frame High Tensile Step-Through Steel Frame Gears Single Speed Display P9 LCD Display Rider Weight Capacity Up to 110 kg Rider Height 5 ft. to 6 ft. Frame Warranty 5 Years Price ₹27,999 3. Nexzu Rompus Plus Nexzu Mobility, a Pune-based electric cycle manufacturer, has gained popularity for its affordable and feature-rich products. One of their standout models, the Nexzu Rompus Plus, is priced at an attractive ₹29,900 and has secured the third spot on our list of top electric cycles. The Nexzu Rompus Plus offers a compelling combination of value and performance, making it an appealing choice for those seeking an affordable and practical electric cycle. Specifications of Nexzu Rompus Plus Parameters Nexzu Rompus Plus Battery Lithium-Ion 5.2 Ah Battery Location In-Frame Charging Time 2.5 Hours Battery Life Cycle 750 Charges Speed 25 km/h Range Pedelec Mode – 37 km Throttle Mode – 33 km Throttle Full Price ₹29,900 4. Motovolt Kivo Easy Motovolt, a leading electric vehicle manufacturer, has launched the Kivo Easy, an affordable and feature-rich electric scooter priced at ₹28,800. The Kivo Easy boasts an impressive range and a powerful motor, making it an ideal choice for those seeking a comfortable and stylish ride. Safety is a top priority with the Kivo Easy, as it comes equipped with dual disc brakes for reliable stopping power. This ensures riders can enjoy their journey with confidence. Overall, the Motovolt Kivo Easy offers an excellent combination of value, performance, and safety features, making it a compelling option in the electric scooter market. Specifications of Motovalt Kivo Easy Specifications Motovolt Kivo Easy Range Up to 45 km on a single charge Motor 250W BLDC motor Gears 7-speed Shimano gears Battery Removable battery Display LCD Suspension Front Suspension Brakes Dual disc brakes 5. Synergy B1 Electric Cycle The Synergy B1 Electric Cycle is priced at an affordable ₹19,200, making it an attractive option for those looking to embrace electric mobility without breaking the bank. This affordable electric cycle is expected to contribute to the growing popularity of electric bicycles in India. Specifications of Synergy B1 Electric Cycle Specifications Details Motor Type Hub Motor Battery Type Lithium Internal, 5 Ah Lithium Battery Battery Charging Time 4 hours Range 18 km on throttle, 28km on PAS Number of Gears 1 Number of Wheels 2 Motor Power 36V 250W Max Loading Capacity 120 kg 6. udChalo Launches VirBike New Delhi-based consumer tech start-up udChalo has made waves in the electric vehicle market with the launch of its VirBike electric bicycle last year. Drawing inspiration from the armed forces, udChalo aims to democratize sustainable transportation by offering affordable and eco-friendly options to all Indians. Priced at an attractive ₹27,500, the VirBike caters to the rising demand for budget-friendly electric mobility solutions. Its robust design and reliable performance make it a suitable choice for daily commuting and recreational purposes. Specifications of udChalo VirBike Specifications Details Range Up to 40 km on a single charge Motor 250W BLDC motor Gears 7-speed Shimano gears Battery Removable battery Display LCD Suspension Front Suspension Pros Good range, a comfortable seat, and good suspension Cons Slightly heavier, limited top speed 7. Hero Lectro H5 Hero Electric, a leading player in the electric mobility space, offers a wide range of affordable electric cycles under its Lectro brand. One of the standout models from the Hero Lectro portfolio is the H5, priced at an attractive ₹28,999. Specifications of Hero Lectro H5 Specifications Details Frame MTB frame for all tracks and trails Range Up to 30 km on one charge Top Speed 25 km/h Battery Capacity 5.8 Ah Motor Power 250 W Max Power <250 W 8. E Motorad X1 E Motorad, a renowned manufacturer of budget-friendly electric cycles, has once again impressed with the launch of the X1. The X1 is priced even lower than its predecessor, the X2, at an affordable ₹25,999. The E Motorad X1 offers an exceptional combination of value and performance, making it an attractive

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BESCOM EV Mitra App Now Multilingual with WhatsApp Payments

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BESCOM EV Mitra App Now Multilingual with WhatsApp Payments Bengaluru, India – In a significant move to boost electric vehicle (EV) adoption in Karnataka, the Bangalore Electricity Supply Company Limited (BESCOM) has launched an upgraded version of its EV Mitra app. The revamped app offers a more intuitive and user-friendly interface, along with several new features designed to enhance the overall experience for EV owners. One of the key enhancements in the updated EV Mitra app is the introduction of multilingual support. The app is now available in 11 languages, including Kannada, Hindi, and English, making it accessible to a wider range of users across the state. This feature is especially beneficial for those who may not be proficient in English, as it allows them to easily navigate the app and access information in their preferred language. In addition to multilingual support, the EV Mitra app has also been equipped with a WhatsApp support bot. This innovative feature enables users to initiate charging and process payments directly through WhatsApp, eliminating the need to open the app or use additional platforms. This streamlined process aims to make the EV charging experience even more convenient and hassle-free. Government Supports EV Adoption with BESCOM’s App Upgrade The upgraded app provides comprehensive details on EV charging stations, including their locations, availability, and amenities. This information empowers users to plan their journeys efficiently and locate charging stations that meet their specific needs. In case of any technical issues during charging, users can now receive a refund directly through the app. Energy Minister KJ George emphasized that the multilingual interface of the EV Mitra app reflects the government’s commitment to making green travel more accessible and affordable for everyone. Mahantesh Bilagi, managing director of BESCOM, reiterated the company’s dedication to enhancing user experience as it continues to develop EV-charging infrastructure in Karnataka. The launch of the upgraded EV Mitra app is a significant step towards promoting the adoption of electric vehicles in the state. By providing a more user-friendly and accessible platform, BESCOM aims to encourage more people to make the switch to electric vehicles, contributing to a cleaner and greener future. BESCOM: A Powerhouse for Karnataka Bangalore Electricity Supply Company Limited (BESCOM) is a leading electricity distribution company in Karnataka, India. It is responsible for providing power to the city of Bengaluru and several surrounding districts. BESCOM plays a crucial role in meeting the growing energy demands of the region, supporting economic development, and improving the quality of life for its customers. With a focus on reliability and efficiency, BESCOM strives to deliver uninterrupted power supply to its consumers. The company has been actively involved in various initiatives to promote energy conservation, improve grid infrastructure, and integrate renewable energy sources into its power mix. BESCOM’s commitment to sustainability and customer satisfaction has earned it a reputation as a trusted and reliable electricity provider in Karnataka. Join All India EV Community Click here for more such EV Updates

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Global Lithium Mining Overview: A report by All India EV

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Global Lithium Mining Overview: A report by All India EV Lithium, often referred to as “white gold,” has become one of the most critical elements in the modern industrial era, primarily due to its vital role in the production of lithium-ion batteries, which are essential for electric vehicles (EVs), renewable energy storage, and portable electronics. The growing demand for lithium, driven by the rapid adoption of electric vehicles and renewable energy technologies, has created a boom in lithium mining activities globally. The industry is dominated by several key companies, with operations spanning across regions rich in lithium reserves, particularly Australia, Chile, and China. This report provides an overview of the major players in the lithium mining industry, their operations, and the yearly production capacities from their respective mines. Key Lithium Mining Companies The global lithium mining industry is shaped by a handful of influential companies, which contribute significantly to the world’s lithium supply chain. Below is a summary of the top lithium mining companies based on market capitalization and production capacity: Albemarle Corporation Sociedad Química y Minera de Chile (SQM) Tianqi Lithium Ganfeng Lithium Mineral Resources Ltd. Pilbara Minerals Allkem Livent Sichuan Yahua Industrial Lithium Americas Major Lithium Mines and Their Production Capacities The table below outlines the key lithium mines controlled by the leading companies and their yearly production capacities. Company Mine Location Production Capacity Albemarle Corporation Salar de Atacama Chile 120,000 metric tons of lithium carbonate Albemarle Corporation Wodgina Mine Australia 750,000 metric tons of lithium spodumene concentrate Sociedad Química y Minera Salar de Atacama Chile 120,000 metric tons of lithium carbonate Tianqi Lithium Greenbushes Mine Australia 1,340,000 metric tons of lithium spodumene concentrate Ganfeng Lithium Mount Marion Mine Australia 450,000 metric tons of lithium spodumene concentrate Allkem Olaroz Lithium Facility Argentina 42,000 metric tons of lithium carbonate Livent Lithium Hydroxide Operations USA 20,000 metric tons of lithium hydroxide Lithium Americas Thacker Pass USA 66,000 metric tons of lithium carbonate (once operational) Global Lithium Supply Chain The global lithium supply chain is deeply interconnected, with these major players controlling vast reserves and production capabilities. Australia is home to some of the world’s largest lithium mines, while Chile remains a leader in lithium brine extraction. China, despite not having the largest reserves, plays a crucial role in lithium refining and production, making it a dominant force in the lithium-ion battery supply chain. This supply chain is critical for the production of batteries used in electric vehicles (EVs), consumer electronics, and energy storage systems. Conclusion The lithium mining industry is set to continue its rapid growth in response to the increasing demand for lithium-ion batteries, primarily driven by the transition to electric vehicles and renewable energy storage solutions. The leading companies in the sector, such as Albemarle, SQM, Tianqi Lithium, and Ganfeng, are not only expanding their current production capacities but also investing in new technologies and projects to secure their dominance in the global market. As demand continues to outstrip supply, we can expect to see further expansions and new projects to come online, further shaping the future of the lithium mining landscape. Join All India EV Community Click here for more such EV Updates

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JSW MG Offers Affordable EV Windsor with Battery Rental

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JSW MG Paves the Way for EV Adoption with Windsor JSW MG Motor has made a significant stride in India’s electric vehicle landscape with the introduction of its new Windsor EV. Priced competitively at 10 lakhs (ex-showroom), the Windsor aims to attract a wider audience by offering a unique ownership model: battery as a service (BaaS). Under the BaaS program, customers can purchase the Windsor without the hefty upfront cost of the battery. Instead, they can rent the battery on a pay-per-use basis, paying a nominal fee of Rs 3.5 per kilometer. This innovative approach significantly reduces the initial investment required for EV ownership, making it more accessible to a broader range of consumers. The Windsor itself is a mid-sized electric SUV that boasts impressive features and performance. Equipped with a powerful electric motor, the Windsor offers a smooth and quiet driving experience. Its spacious interior and modern design cater to the needs of both families and individuals seeking a comfortable and stylish electric vehicle. JSW MG Paves the Way for EV Adoption with Windsor JSW MG Motor has also focused on addressing range anxiety, a common concern among potential EV buyers. The Windsor comes with a battery pack that offers a respectable range on a single charge, allowing for comfortable long-distance travel. Additionally, the company has partnered with various charging infrastructure providers to ensure that Windsor owners have access to a wide network of charging stations across the country. The launch of the Windsor is a testament to JSW MG Motor’s commitment to driving the adoption of electric vehicles in India. By offering an affordable and accessible ownership model, the company is breaking down barriers and making EVs a more viable option for Indian consumers. As the demand for electric vehicles continues to grow, the Windsor is poised to become a popular choice for those seeking a sustainable and eco-friendly mode of transportation. As the Indian EV market continues to evolve, the Windsor could play a pivotal role in shaping its trajectory. By demonstrating the practicality and affordability of electric vehicles, the Windsor can inspire more consumers to consider EVs as their primary mode of transportation. This shift towards electric mobility can help reduce pollution, conserve energy, and contribute to a more sustainable future for India. In conclusion, the JSW MG Windsor is a promising addition to India’s electric vehicle landscape. Its competitive pricing, innovative battery rental model, and focus on range and charging infrastructure make it a compelling option for those seeking a sustainable and affordable electric vehicle. As the EV market continues to grow, the Windsor’s success could further accelerate India’s transition to a greener future. Join All India EV Community Click here for more such EV Updates

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India Boosts EV Adoption with $1.3 Billion Incentive

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India Boosts EV Adoption with $1.3 Billion Incentive In a significant step towards reducing pollution and transitioning to a greener future, the Indian government has approved a substantial incentive scheme for electric vehicles (EV). The PM E-DRIVE (Electric Drive Revolution in Innovative Vehicle Enhancement) initiative, unveiled on September 11, will allocate a staggering 109 billion rupees ($1.3 billion) to promote the adoption of EVs across the country. The scheme will offer substantial subsidies for various types of electric vehicles, including two-wheelers, three-wheelers, ambulances, and trucks. E-two wheelers, e-three wheelers, and e-ambulances will receive subsidies of 36.79 billion rupees, while e-trucks will be eligible for 5 billion rupees in incentives. Additionally, the government has allocated 5 billion rupees for the deployment of e-ambulances, a first-of-its-kind initiative. India Offers $65 Million Incentive for Truck Replacement To further accelerate the adoption of EVs, the government has also announced a 5 billion rupee incentive for the replacement of older, polluting trucks with electric models. This move is expected to significantly reduce air pollution in India, where trucks are a major contributor to emissions. While the government has not explicitly mentioned cars in the initial announcement, it is likely that the scheme will eventually extend to this segment as well. To support the growing EV market, the government has also set aside 43.91 billion rupees for public transport agencies to purchase 14,028 electric buses. In line with the government’s push for EVs, Road Transport Minister Nitin Gadkari has urged carmakers to establish vehicle scrapping centers. This initiative aims to remove polluting vehicles from the roads, thereby boosting the demand for new, cleaner models. While electric cars currently account for less than 2% of India’s car sales, the government’s ambitious target is to increase this share to 30% by 2030. The PM E-DRIVE scheme will also focus on enhancing charging infrastructure across the country. By investing in charging stations, the government aims to address one of the key barriers to EV adoption. Furthermore, the scheme will promote research and development of new EV technologies, fostering innovation and driving advancements in the sector. Overall, the Indian government’s $1.3 billion incentive scheme for electric vehicles represents a significant commitment to a cleaner and more sustainable future. By providing substantial subsidies, supporting infrastructure development, and promoting technological innovation, the government is creating a favorable environment for the growth of the EV market in India. Join All India EV Community Click here for more such EV Updates

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Delta Fuels Innovation with New India HQ and R&D Center

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Delta Fuels Innovation with New India HQ and R&D Center Delta Electronics, a global leader in power management and IoT solutions, has made a significant investment in India with the inauguration of its new India headquarters and global research and development (R&D) center in Bengaluru. This strategic move reinforces Delta’s commitment to the Indian market and positions the company at the forefront of technological advancements in the region. The facility, located in the bustling Bommasandra Industrial Area, spans over 61,000 square meters and can accommodate up to 3,000 employees. The new headquarters and R&D center are designed to foster innovation and collaboration, bringing together a team of talented engineers and researchers to develop cutting-edge solutions for the Indian market and beyond. Delta’s Investment Fuels India’s Technological Growth One of the key highlights of the new facility is its focus on sustainability. The building is LEED Gold-certified, reflecting Delta’s dedication to environmental responsibility. Equipped with a 593kW solar PV system, the center generates over 650,000 kWh of electricity annually, reducing its carbon footprint and promoting clean energy. Delta’s investment in India is a testament to the country’s growing economic importance and its potential as a hub for technological innovation. The new headquarters and R&D center will not only drive Delta’s growth in India but will also contribute to the development of the local technology ecosystem. By investing in research and development, Delta is helping to nurture a pipeline of talent and foster a culture of innovation. As India continues to play a pivotal role in the global technology landscape, Delta’s new headquarters and R&D center are poised to become a catalyst for growth and innovation. With its focus on sustainability, cutting-edge technology, and a commitment to the Indian market, Delta is well-positioned to shape the future of power management and IoT solutions in the region. Join All India EV Community Click here for more such EV Updates

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Government Imposes GST on Electric Vehicle Charging

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Government Imposes GST on Electric Vehicle Charging The Ministry of Power has earlier said that charging of an electric vehicle is a service and not sale of electricity. A GST panel, made up of state and central tax officials, has upheld the decision to impose an 18% GST on charging electric vehicles at public stations. The panel rejected industry pleas for a tax break, arguing that charging EVs involves both electricity usage and additional station fees. EV Charging Gets Zapped: GST Clarification While the supply of electricity as such is exempt from the levy of GST, AAR, Karnataka, has held that the charging of an electric vehicle at public charging stations is a service that is liable to taxation. The AAR said the charging stations provide for facilities and services in addition to the electricity that justifies an 18% GST. The ruling has strong implications for the fast-expanding ecosystem of electric vehicles and charging infrastructure that is coming up. The broader implication of this ruling by AAR is the complexity of determining the taxable nature of services amidst the emergence of new technologies. While electric vehicles are finding greater acceptance day by day, it is considered important that guiding principles and regulations must be in place for the right ecosystem to continue their growth in years to come. EV Charging Tax Stays: A Clarification The Ministry of Power has clarified that the process for charging an electric vehicle is a service and not a sale of electricity. That was important to keep the current 18% GST on the charging of EVs at public charging stations going. On the strength of this judgment, therefore, EV users will continue paying the same tax on the total amount charged. This judgment gives clarity to the developing market for EVs and ensures the same regime of taxation for EV charging services. Join All India EV Community Click here for more such EV Updates

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Cygni Energy and XDLE Battery Team Up for Energy Storage

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Cygni Energy and XDLE Battery Team Up for Energy Storage Cygni Energy, the leading technology-driven energy storage company, announced its strategic partnership with XDLE Battery. A well-known ultra-long-life lithium LFP primary cell manufacturer, to develop advanced stationary energy storage solutions with the escalating demand for continued power supply. This partnership will be important in delivering solutions across various commercial and industrial customer needs through the merger of expertise. Using energy storage systems at Cygni Energy and the XDLE Battery advanced battery technology. A Pioneer in Advanced Energy Storage Solutions The company’s storage solutions, with a design for safety first, are sure to function reliably and with high efficiency. Cygni’s technology collaboration with IIT Madras, apart from partnerships with various OEMs, provides it with application-specific designs to attend to customers’ diverse needs. Moreover, the first company to get recognized under the scheme of ‘Make in India’ (Start-up India). Cygni has established a strong foothold in the Indian market with its expertise in EV Batteries (2W & 3W) and Energy Storage Systems (Telecom, Solar hybrid, etc.). To address this growing demand for energy storage solutions, Cygni has invested in a manufacturing facility in Hyderabad. It is designed with an integrated capacity of 1.2 GWh, ultra-high automation, and an intelligent prismatic battery pack production line. Equipped with internationally renowned technologies like high-powered laser welding, CCD detection, and fully automatic End-of-Line (EOL) testing. The plant will guarantee quality and high-speed production. The manufacturing capability is to locally produce the products. It will let EPC companies offer turnkey generation and storage solutions for acceleration of India’s ambition for energy independence. Revolutionize Commercial and Industrial Energy Storage Through the partnership, the firms will jointly develop solutions within the range of 20 kWh to 1 MWh. They will speed up the world’s transition toward renewable energy and the best in sustainable practices. The solutions will boast industry-leading warranties of 10 years or more to enable greater market acceptance and lure financing partners. XDLE Battery is one of the ultra-long-life LFP cells in the world, with profound experience in BESS, behind-the-meter Commercial and Industrial, and Grid-scale Energy Storage Solutions. XDLE is one of the world leaders in prismatic lithium-ion cells, with an annual production capacity of 25.5 GWh. The product mix has mostly been semi-solid state LFP Prismatic and low-temperature charging capability. Furthermore, XDLE’s development in solid-state batteries can provide future opportunities to unlock more applications and further drive the energy storage. “Cygni is committed to India’s decarbonization roadmap and this partnership is a step in that direction. XLDE’s LFP prismatic cells offer world-class performance with life of over 15,000 cycles. It is a pioneer in the Z-stacking method in prismatic cells which results in high efficiency and superior performance at low temperatures. XDLE’s semi-solid LFP technology provides Enhanced Safety, Improved Energy Density, Extended Cycle Life and Cost-Effective Manufacturing and with lower-than-grid Levelized Cost of Energy (LCOE)” Venkat Rajaraman, CEO, Cygni Energy “The stationary energy storage market in India is poised for significant growth in the coming years, driven by the country’s increasing focus on renewable energy (RE) integration. With ambitious targets to boost RE capacity, the demand for efficient energy storage solutions is set to rise, enabling better management of intermittent power supply and enhancing grid resilience. Cygni Energy is a leading storage technology company and this MoU will deepen our partnership to build cutting edge stationary storage solutions for India. Our ultra-long cycle life cells can work for ESS projects for up to 20 years” Lulu Zhang, Global Vice President Business Development Cygni Energy From its incubation at the fabled IIT Madras, Cygni has grown in EV Batteries for 2W & 3W and Stationary Energy Storage Systems-Telecom and Commercial & Industrial Storage. This growth and potential are reflected in the recent Series-B funding of USD 12.5 million to Cygni. This funding will add great value to the company’s development and growth. It tries to take this process forward and continuously develop innovative solutions in the area of energy storage. Cygni is leading India’s transition to a greener and more sustainable future, with a proven track record. Deploying upwards of 125 MWh of storage solutions and powering in excess of 100,000 electric vehicles. XDLE Battery The Huigong Group subsidiary, XDLE Battery Company, Ltd., located in China, has championed the world in energy storage solutions on a grid scale and commercial and industrial applications. With an enormous annual production capacity for the prismatic lithium-ion cells at 25.5 GWh, supported by a huge investment of RMB 5.4 billion, XDLE leads the technology of energy storage. Huigong Group, an international leading mining truck components supply company, founded in 2001, boasts over two decades of innovation and quality that only it can give back to the XDLE Battery. It is in its legacies that the development of ultra-long-life LFP cells finds perfect integration within this advanced technology. These ultra-modern cells cater to high-performance applications with 2C continuous charge and 3C continuous discharge. It also has LFP cells, widely noted as the safest of their kind. XDLE has passed some of the most grueling gunshot tests time and again. But in preparation for the company to take energy storage to the next level with its all-solid-state LFP later this year, industry-leading innovation will be redefining durability and performance with 30,000 cycles and 40-year calendar life. Join All India EV Community Click here for more such EV Updates

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Pure EV Gears Up for INR 3,000 Cr IPO, Aiming for Second Listing

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Pure EV Gears Up for INR 3,000 Cr IPO, Aiming for Second Listing Pure EV, one of the well-known electric vehicle makers based in Hyderabad, is all geared up for the much-awaited high jump in the Indian booming EV market. The company has announced an initial public offering for 2025 to turn out to be the second EV maker in India going for a public issue. On the monetary front, the company has been on strong wickets, reporting operational profitability for two consecutive years. Its growth trajectory is impressive—a turnover increase of 20 times to INR 3,000 crore in the next four years. This ambitious target underlines its confidence in fully exploiting the demand that is gathering momentum for electric vehicles in India. Pure EV Targets IPO Amidst Financial Woes Pure EV has been one of the biggest movers in the Indian electric vehicle market, reporting operational profitability for the last three years without the help of any government subsidy. However, its recent financial performance raises some questions over the IPO ambition of the company. Though The company has shown financial resilience, the latest financial disclosure, which is for FY23, shows revenue decline and a loss of INR 9.32 crore. Its revenue from operations declined to INR 131.28 crore in FY23 from INR 225.98 crore in FY22, a fall of about 42%. Despite these setbacks, Pure EV remains very bullish on its future and is striving hard to continue increasing its product offerings and its market share. Pure EV’s expansion plans and IPO ambitions The company is expanding operations and building capability in every direction to achieve ambitious growth plans. In a move of this nature, the state-of-the-art facility for EV and battery manufacturing was set up in Telangana over 1 lakh square feet. This substantial investment by Pure EV underlines the commitment of Pure EV towards manufacturing excellence and innovation. Besides expanding its manufacturing facilities, Pure EV has collaborated with UK-based engineering company PDSL to develop solid-state battery technology. This advanced technology can introduce a paradigm shift in the electric vehicle sector due to its higher energy density and improved safety. Pure EV is showing positive signs in R&D in order to be at the edge in technology related to the EV sector. Pure EV is all set to go with IPO plans despite intense competition Pure EV has completed its most recent Series A1 funding round at US$ 25 million and is preparing for its public market launch. The large funding follow-on is raised after an earlier funding round of US$8 million, which had led Bennett Coleman and Company Limited and Hindustan Times Media Ventures. It is competing in a high-momentum Indian electric vehicle market dominated by Ola Electric, with a commanding 34% market share. Yet, while the company has achieved decent growth, the sale of 291 vehicles in August is just 0.3% of the market. The only way it can perform better and be reasonably at par with other players like Ola Electric would be through its IPO, which must turn out to be successful. Join All India EV Community Click here for more such EV Updates

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