Ampere Vehicles Eyes Electric Three-Wheeler Space With Bestway Agencies' Acquisition

#ev #electricvehicles #startups #mergersandacquisitions #acquisitions #electricmobility

Ampere Electric Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Limited, has acquired 74% stake in Noida-based electric three-wheeler company BESTWAY AGENCIES PRIVATE LIMITED for INR 7 Cr. The deal is subject to customary closing conditions, the companies have clarified.

Through this acquisition, Ampere Electric Vehicles will venture into the electric rickshaw segment to enforce a strong presence in both electric two and three wheelers. Moreover, the acquisition will also allow it to offer a complete product portfolio to its #B2B customers who have requirements for electric three wheelers as well for both people and cargo mobility.

Ampere was founded in 2008 by Hemalatha Annamalai. The company raised an undisclosed amount from Ratan Tata in 2015. It has so far raised $200 Mn funding and counts Tata, and Chairman Axilor Ventures Senapathy “Kris” Gopalakrishnan as its key investors. Mumbai-based engineering company Greaves Cotton had acquired the company in 2018.

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Ampere Vehicles Eyes Electric Three-Wheeler Space With Bestway Agencies' Acquisition

Ampere Vehicles will own 74% stake in Bestway Agencies Ampere is one of the first EV brands in India to sell its electric two-wheelers through ecommerce portals Electric two and three-wheelers will account for over 80% of passenger vehicles sold by 2030, report Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton, has acquired 74% stake in Noida-based electric three-wheeler company Bestway Agencies for INR 7 Cr.

Fisker Raises $50 Million Funding; Will Be Used For Development Of Ocean Electric SUV - carandbike

#startups #fundingalert #startupfunding #ev #electricvehicle #greenfleet #travel #sustainabilty #sustainabletransport

American electric car manufacturer, Fisker Inc., has announced raising a new $50 million Series C funding from Moore Strategic Ventures, LLC, the private investment vehicle of popular hedge fund manager Louis M. Bacon. The company says that the funds will be used to support the next phase of engineering work on the upcoming Fisker Ocean all-electric luxury SUV, which is slated to be launched in 2022. According to reports, Moore Strategic Ventures LLC has valued Fisker at more than $1.6 billion.

Additionally, Fisker Inc has also announced appointing Burkhard Huhnke as the Chief Technology Officer (CTO) of Fisker Inc. Huhnke served as the former Vice President of e-mobility at Volkswagen America and Vice President of Automotive at chip maker, Synopses. He will lead Fisker's R&D activities in Los Angeles as well as the newly established Fisker Innovation Lab in Silicon Valley.

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Fisker Raises $50 Million Funding; Will Be Used For Development Of Ocean Electric SUV - carandbike

View Photos The investment comes from Louis M. Bacon's Moore Strategic Ventures The funds will go into the development of the all-electric Fisker Ocean The Fisker Ocean electric SUV will also come to India American electric car manufacturer, Fisker Inc., has announced raising a new $50 million Series C funding from Moore Strategic Ventures, LLC, the private investment vehicle of popular hedge fund manager Louis M.

162 new charging stations for electric vehicles in Noida soon - ET EnergyWorld

#ev #electricvehicles #electricvehiclecharging #evchargingstation #evcharging #startups #noida

Over 160 charging stations for electric vehicles (EV) are set to come up soon in Noida, with the Noida Authority and the Energy Efficiency Services Limited (EESL) signing an agreement for it on Thursday, officials said. The move is aimed at promoting electric vehicles by installing public EV charging stations and developing related infrastructure here, they said.

Thirteen of those EVs have been commissioned while seven are yet to be functional. These EV chargers were installed at prominent places of Noida such as Ganga Shopping Complex (Sector 29), near the Electronic City Metro Station (Sector 63), opposite Shopprix Mall (Sector 61), near RTO office (Sector 33), Advant Chowk (Sector 142) and the main market of Sector 50, among others.

Noida Authority CEO Ritu Maheshwari on Thursday said developing a sustainable landscape with strong supporting EV infrastructure is the key to cultivating consumer confidence in electric vehicles and will significantly enhance consumer convenience as well.

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162 new charging stations for electric vehicles in Noida soon - ET EnergyWorld

This agreement builds upon a memorandum of understanding (MoU) signed between the EESL and the Noida Authority last year, which led to the installatio..

Startup Funding Alert: EV startup Earth EnergyEV raises seed funding

#startups #fundingalert #startupfunding #startupindia #ev #electricvehicles #sustainablebusinesses

Electric Vehicles startup Earth EnergyEV has raised an undisclosed amount of funding in its seed round. The funding round was led by LR Joshi, Managing Director at PRANADA BIOPHARMA PRIVATE LIMITED, along with other equity investors. According to a statement issued by the startup, Earth EnergyEV will be using the freshly raised funds to facilitate the launch of its three vehicle models, hire critical talent, and strengthen its sales network.

Headquartered in Mumbai, Earth EnergyEV was founded in late 2017 by Rushi Shenghani. It operates under the parent company Grushie Energy, a Dubai-based company. Earth Energy develops electric motorcycles, scooters, commercial vehicles and autonomous vehicle drivetrains. The company is involved in the development of electric motorcycles, scooters, commercial vehicles, and autonomous vehicle drivetrains for global consumers.

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[Funding alert] EV startup Earth Energy EV raises seed funding

Electric Vehicles startup Earth Energy EV has raised an undisclosed amount of funding in its seed round. The funding round was led by LR Joshi, Managing Director at Pranada Bio-Pharma Pvt Ltd, along with other equity investors.

Automobiles: Indian EV startups beat slowdown to raise capital

#startups #ev #electricvehicles #funding #india

Bigger auto makers in India may be cutting off funding lines to their overseas subsidiaries but electric vehicle start-ups and allied businesses based within the country are attracting investments.

The electric vehicle maker Euler Motors raised Rs 20 crore as a part of its ongoing Series A funding led by the Inventus Capital India. Euler Motors is focused on launching, a one of its kind a last mile, light city truck powered by batteries. No company is India has commercially launch a battery-powered commercial vehicle.

Bengaluru-based Yulu Bikes, another electric vehicle maker, raised Rs 30 crore in equity funding led by US-based venture capital firm Rocketship and other existing investors. The Bajaj Auto-backed company has developed electric bicycle as well as electric scooter which it gives on rent for the last mile connectivity in large cities.

The promoter of charging infrastructure start-up CHARGE+ZONE, Tecso Charge Zone raised undisclosed capital from Mumbai Angels Network. Tecso Charge Zone is a subsidiary of Tecso Global, a Gujarat-based group.

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This week in Auto: Indian EV startups beat slowdown to raise capital

The COVID-19 pandemic has forced many companies to cut funding in several of its overseas subsidiaries to conserve cash. But at the same time some start-ups in India have carried out a funding round and successfully raised capital the lockdown roadblock notwithstanding.

1000 Km Range, 30% Cheaper: Bengaluru Firm, Log 9 Materials, Overhauls Charging Tech for Electric Cars!

#ev #batterytechnology #technology #electricvehicles #afc #aluminiumfuelcell

#vocalforlocal #vocalforlocalindia

The electric vehicle segment in India has indeed come a long way, with limitations of mass adoption. As per data compiled by Bloomberg, a little over 8,000 EVs were sold locally in the past six years, while India currently imports almost all of its lithium ion batteries that predominantly power these vehicles.

According to an analysis by BloombergNEF, in early 2019 there were 316 gigawatt-hours (GWh) of global lithium cell manufacturing capacity. China is home to 73% of this capacity, followed by the U.S., far behind in second place with 12% of global capacity. In order to avoid our dependence on China for these batteries, we have to encourage alternative battery technology.

In this direction, a Bengaluru-based nanotechnology company specialising in Graphene called Log 9 Materials, founded by Akshay Singhal along with his father in 2015 , have developed their own brand of aluminium fuel cells (AFCs) that offer five times the range than an average lithium ion battery can offer, costs 30 per cent cheaper, is easier to use and doesn’t require the hassle of constantly recharging it.

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1000 Km Range, 30% Cheaper: B'luru Firm Overhauls Charging Tech for Electric Cars!

Better than Lithium Ion batteries, this innovation runs on water, air, aluminum and graphene. #DriveGreen #ElectricVehicles The electric vehicle segment in India has indeed come a long way. However, there remains limitations when it comes to mass adoption.

MicroMobility - US-based Rocketship leads Rs 30 Cr funding in Indian micro-mobility platform Yulu

#fundingalert #startups #startupindia #startupfunding #EV #electricmobility #smartcities #localmobility #micromobility #vc #vcfunding

India’s EV market is estimated to touch $2 billion by 2023, according to TechSci Research.

Bengaluru-based last-mile micro-mobility platform Yulu on Monday announced that it has raised a fresh funding of Rs 30 crore led by US-based VC firm rocketship.vc and existing investors.

Amit Gupta, Co-founder and CEO, Yulu shared “Users find Yulu as the safest mode of commute due to our single-seater vehicles and frequent sanitization. It is becoming increasingly evident that shared mobility platforms like Yulu will lead the large scale adoption of Electric Vehicles in India.”.

This marks rocketship.vc’s first-ever investment in the Indian micro-mobility sector. The VC firm has backed many Indian startups including players Moglix, Khatabook, NoBroker.com, and Locus to name a few.

So far, Yulu has raised more than $20 million in funding from key investors like Bajaj Auto Ltd, Blume Ventures, 3one4 Capital, Wavemaker Partners, and now US-based rocketship.vc, among others. In November 2019, Yulu had received Series A funding of $8 million, led by leading automobile manufacturer Bajaj Auto Ltd.

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US-based Rocketship leads Rs 30 Cr funding in micro-mobility platform Yulu

Bengaluru-based last-mile micro-mobility platform Yulu on Monday announced that it has raised a fresh funding of Rs 30 crore led by US-based VC firm Rocketship and existing investors. According to a statement released by the startup, the new investment will be used for further strengthening the mobility platform, providing technology solutions, and enabling rapid expansion.

EV Technology: AI breakthrough slashes EV battery testing time by 98 percent

Source:- Siliconrepublic.com

In the race to bring EVs to the masses, researchers have developed a machine learning algorithm that could supercharge battery development.

A collaboration between Stanford University, Massachusetts Institute of Technology and the Toyota Research Institute has led to the development of a new machine learning method that aims to overcome one of the biggest issues in the development of electric vehicles (EVs).

This bottleneck involved the evaluation time of EV batteries, where new technologies must be tested for months – or even years – to see how long they will last. However, in a paper published to Nature, the research team said its new #AI slashes the amount of time it takes to test #EV batteries by 98pc. While the focus of the study was on battery charge speed, it can be applied to other parts of battery development and even to non-energy technologies.

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AI breakthrough slashes EV battery testing time by 98pc

In the race to bring EVs to the masses, researchers have developed a machine learning algorithm that could supercharge battery development. A collaboration between Stanford University, MIT and the Toyota Research Institute has led to the development of a new machine learning method that aims to overcome one of the biggest issues in the development of electric vehicles (EVs).