DG Innovate a UK-based advanced R&D company specializing in sustainable mobility and energy storage, has forged a groundbreaking joint venture (JV) with EVage Motors (“EVage”), a rapidly growing electric truck company based in India. This strategic alliance aims to revolutionize electric motor production in India, leveraging DGI’s innovative solutions and EVage’s market presence to dominate the Asian market.
Peter Bardenfleth-Hansen, DGI CEO, said:
“This is a pivotal moment for DGI and we welcome our new partners at EVage. Asia is a critical market for the EV industry, and India in particular benefits from a leading manufacturing platform that will allow us to deploy our products at top speed and competitive costs. I also take this opportunity to re-iterate my welcome to Pierre, a true motor whisperer whose work powers some of the most iconic electric vehicles on the market. His expert advice will immensely enhance our partnership with EVage.”
Inderveer Singh, EVage Founder & CEO, said:
“We are thrilled to bring cutting-edge motor technology to India and create new, high-value engineering jobs. Together with DGI, EVage will produce world-class products aligned with PM Modi’s vision of make in India, make for the world. We are particularly thrilled to see pioneering ex-Tesla leaders like Peter look at India as a place of opportunities for the EV sector.”
Let’s delve into the key details of the joint venture by two big groups:
Target of Efficient Electric Trucks
Through the JV, DGI and EVage will collaborate to manufacture DGI’s cutting-edge Pareta electric drive system in Punjab, India. This partnership promises to deliver highly efficient electric trucks, offering fleet owners longer lifespans and reduced ownership costs. The implementation of DGI’s technology is projected to increase the average range by 5%-7% on a single charge, significantly enhancing operational efficiency for EVage’s customers.
Ownership Structure and Investments
The JV will be majority-owned by DGI (60%), with EVage holding a 40% stake, demonstrating both parties’ confidence in the Indian EV market. This collaborative effort signifies a substantial investment into India’s burgeoning electric vehicle sector, with a shared vision of pioneering transformative solutions and driving sustainable mobility forward.
Expertise Integration
DGI brings to the table extensive industry expertise of 15 years, led by a team of former Tesla managers and engineers. The recent addition of Pierre Pellerey, renowned for his motor design contributions to Tesla and Dyson, further strengthens DGI’s capabilities. Pellerey’s vast experience in developing electric vehicle motors positions him as a key asset in advancing the JV’s objectives and propelling innovation in electric motor manufacturing.
Efficiency and Scalability
Utilizing EVage’s Modular Miniature Manufacturing (Mcube) micro-factory, the JV will produce the world’s most efficient motors. This innovative approach enables agile and scalable production, with the factory already churning out over one electric truck daily. The widespread adoption of EVage’s electric trucks by leading companies like Amazon underscores the market demand for sustainable mobility solutions and validates the JV’s potential impact in transforming the electric vehicle landscape in India and beyond.
Final Thoughts
The collaboration between DG Innovate and EVage Motors may prove to be a significant step forward for electric vehicles in India. Together, they will bring expertise and market presence to drive innovation and make electric vehicles more popular. This partnership may promise better, more affordable electric trucks, helping businesses save money and reduce pollution. Overall, it could be a win-win for everyone involved and a positive step towards a greener future.
