DG Innovate Ventures into Domestic EV Market with Strategic Partnership with EVage Motors

UK-based advanced R&D firm DG Innovate enters the Indian electric vehicle space by partnering with EVage Motors to produce electric motors. The JV aims to strengthen EVage's EV stack and offer highly efficient electric trucks with increased range. DG Innovate will contribute its expertise, while EVage will provide manufacturing capabilities. The JV will target the Asian EV market, particularly India, leveraging its manufacturing expertise and competitive costs. The partnership includes notable former Tesla executives and aims to revolutionize the Indian EV industry.

UK-based advanced R&D firm DG Innovate on Wednesday announced its entry into the domestic electric vehicle space through a joint venture with electric commercial vehicle startup EVage Motors.

The JV, which will be 60 per cent owned by DG Innovate and 40 per cent by the Indian partner, will produce electric motors for both domestic and overseas markets, EVage said.

Besides, the collaboration will also strengthen EVage's proprietary EV stack as a vertically integrated company, it said.

Founded by a former Tesla executive, DG Innovate, is currently developing its products alongside a number of major manufacturers across the transportation and energy sectors, research institutions and the UK government.

''DG Innovate will partner with EVage to manufacture its proprietary Pareta electric drive system in Punjab,'' Evage said.

Together, the companies will target the Asian EV market, offering far more efficient electric trucks, resulting in longer life and a reduced cost of ownership for fleet owners, with an average range increase of 5-7 per cent on the same charge, it said.

''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,'' said Peter Bardenfleth-Hansen, CEO at DG Innovate.

The JV will enable DG Innovate to pursue a faster, lower-cost route to high-precision manufacturing in India, materially growing its market share in the critical Asian market and giving EVage Motors' customers access to electric motors at 98.5 per cent efficiency, the company said.

''Together with DGI, EVage will produce world-class products. We are particularly thrilled to see pioneering ex-Tesla leaders like Peter look at India as a place of opportunities for the EV sector,'' said Inderveer Singh, EVage Founder and CEO.

DG Innovate said it will contribute the significant industry expertise of its team of former Tesla managers and engineers, bolstered by the recent appointment of Pierre Pellerey as a consultant to the company.

DG Innovate and EVage will manufacture the motor, leveraging EVage's modular miniature manufacturing (Mcube) micro factory, which already supports India's first native commercial EV platform, it said.

The factory currently produces over one electric truck a day, Evage said adding those trucks are servicing top FMCG, e-commerce and logistics companies throughout India, with top clients including Amazon.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)