Top 5 EV companies changing the shape of the automobile industry in India
NITI Aayog aims to reach 70% of EV sales for all commercial cars, 30% for private cars, 40% for buses, and 80% for two and three-wheelers by 2030. This is in line with India’s goal of achieving net-zero carbon emissions by 2070. The global electric vehicle (EV) market is developing at a rapid pace. By EV volumes, the total number of electric vehicles—including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs)—reached a global share of 8.3% in 2021, up 4.2% from the 6.75 million vehicles on the road in 2020. This is an increase of 108% by 2020. Many well-known brands and startups are venturing into the market related to EVs to change the shape of the automobile industry in India; appended below are a few examples:
ElectronEV- Based out of the Bay Area in the USA and Hyderabad, India, ElectronEV was founded by Vinay Jayachand and Rakesh Koneru in 2018 with a single-minded vision: Bringing the power of EV platforms to Light, Medium, and Heavy Duty Commercial Vehicles. Their mission is to raise ‘N’ to the power of ‘EV’. ElectronEV plans to introduce its proprietary EV technology through its electric vehicles and end-to-end mobility solutions for markets like India, South East Asia, Australia, and Europe. Also, the founders envision a net-zero carbon infrastructure from well to wheels. They believe that battery-electric powertrains will be the most efficient to manufacture and own in the long run.
Volta trucks- The Volta Zero demonstrator was founded on 3 September 2020. It began the development of the production vehicle in January 2021, and by December 2021, the first road-ready Design Verification prototype was finished. Before the start of series production in late 2022, production verification vehicles will be built for customer evaluation in the middle of 2022 at the Volta Trucks contract manufacturing site in Steyr, Austria.
Infraprime Logistics Technologies – Infraprime Logistics Technologies Private Limited is a Private incorporated on 19 April 2017. It is classified as Non-govt company and is registered at Registrar of Companies, Delhi. Its authorized share capital is Rs. 30,000,000 and its paid-up capital is Rs. 20,878,290. It is inolved in Business activities n.e.c. Infraprime Logistics Technologies Private Limited’s Annual General Meeting (AGM) was last held on 31 December 2021 and as per records from the Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 31 March 2021.
REE Automotive is an electric platform leader reinventing e-mobility. Unrestricted by legacy thinking, REE has developed the next-generation EV platform, which is entirely flat, scalable and modular, providing customers full design freedom to create the broadest range of EV and autonomous vehicles for current and future applications. Its services include last-mile delivery, MaaS, light to medium-duty EV logistics and robo taxis.
EVage – EVage is India’s leading all-electric, purpose-built commercial vehicle OEM that, by combining the creativity of aeronautical engineering with the expertise of automotive design, has transformed the transportation sector. The company has developed ground-breaking products like the single modular skateboard capable of building multiple vehicle types, a lightweight yet tough exoskeleton covered with an innovative space-grade composite material, and ultra-stable and fast-charging batteries with advanced chemistry. All of them are produced in their incredibly effective Modular Micro Manufacturing factory setup. Their “Exoskeleton Structure” acts as a practical standard architecture for trucks, vans, SUVs, and delivery cars. The company presently employs about 50 people with experience in the automotive and aviation industries at its R&D and robotics centre in Punjab, India.