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August 26, 2020

India EV start-up shows CV platform

Indian electric vehicle start-up EVage says it is planning to build commercial EVs, completely aligned to Indian Prime Minister Narendra Modi's Atma Nirbhar (Self-Reliance) Program.

By Sam Duke

Indian electric vehicle start-up EVage says it is planning to build commercial EVs, completely aligned to Indian Prime Minister Narendra Modi’s Atma Nirbhar (Self-Reliance) Program.

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It also says it has designed India’s first ‘Exoskeleton Structure’, a purpose-built EV platform for commercial vehicles.

EVage will launch a delivery vehicle for commerce applications this year, it says.

The start-up has attracted a funding round was led by mobility veteran, Ola Electric Co-Founder and Senior Advisor Anand Shah along with BryAir Director Varun Pahwa, and  DMI Group partner Anmol Nayyar. The three invested an undisclosed amount in the mobility tech startup EVage, which is set to launch their first Electric Delivery Van on a completely ‘Made in India’ structure.

“India is poised to be a major market for electric vehicles, starting with heavy users who depend on vehicles for their businesses and livelihoods. EVage has spent several years developing innovations that make it easier to manufacture and deploy commercial electric vehicles. I am excited to support their capable team as they bring transformative new vehicles to the logistics market,” said Anand Shah, Co-Founder and Senior Advisor, Ola Electric.

EVage says its team of experts from Aerospace, Automotive Design, and Battery Manufacturing industries are focused on addressing the specific mobility needs of India’s rapidly growing logistics and e-commerce segments. EVage says it is in line with PM Modi’s vision of ‘Made in India, Made for World’ and claims it is set to disrupt the logistics sector with the upcoming launch of a four wheeler Electric Delivery Van.

Founder & CEO, Inderveer Singh said: “We are working hard to make it easy for vehicle-dependent businesses to leverage clean mobility with purpose-built products. It is our privilege to have a visionary in the EV and mobility industry – Anand Shah guiding us in this journey of ours. His experience with Ola Electric, BMW and Audi will only strengthen our long-term vision to make logistics efficient for our customers and promote clean transportation.”

The funds will be used to build vehicles and deliver initial orders to EVage’s customers.

In these last 5 years of R&D, EVage has redefined the way vehicles are built, they have designed EVs like one would look at manufacturing aerospace structures, which is the key differentiator in EVage’s approach towards building a ‘new-age’ automobile company.

EVage EVAge’s first product is in the 4 wheeler commercial vehicle segment. It currently employs around 30 people at its R&D centre in Mohali, India.

Free Report
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What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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