Indian EV has been expanding by permeating public lives slowly but steadily. As the climate action topic warms up, India has an opportunity to shine in the EV sector while easing the Indian commuters’ lives.
Last week, Three Wheels United (TWU), a global fintech company for EV financing, has partnered with Zyngo, an Indian EV logistics platform for e-commerce, to accelerate EV adoption for last-mile delivery.
Through this partnership, TWU will facilitate loans for partner drivers of Zyngo to easily switch from conventional cargo autos to EV cargo vehicles. Together, they will deploy over 2500 EV 3-wheelers across Delhi NCR, Bengaluru, Chennai, and Hyderabad by the end of the financial year 2023.
In November, iCreate, an Indian innovation-based startup incubator hosted a 5-day bootcamp of India’s largest EV innovation challenge, EVangelise ’22. The event showcased solutions from 40 innovators from across India to real world challenges in the EV industry in the areas of battery safety and EV infrastructure.
Also, Modular EV manufacturer, Revamp Moto, tied up with Panache, a public limited organization specializing in design, manufacturing, distribution and services of ICT & IoT devices as their contract manufacturer for EVs. While the alliance allows Panache to make its foray into the Indian EV market and assemble indigenously made EVs for Revamp Moto at its facility in Bhiwandi, Mumbai, Revamp will showcase a strong concept of modularity in EVs that can be a game changer in the EV ecosystem of India.
With a production capacity of 150,000 vehicles per year, this partnership with Panache will enable us to fast pace the delivery of our vehicles to customers
Jayesh Tope, Co-founder and Managing Director, Revamp Moto, said, “We are seeing a huge demand for our vehicles in the market. With a production capacity of 150,000 vehicles per year, this partnership with Panache will enable us to fast pace the delivery of our vehicles to customers. We are confident about Panache’s manufacturing competence and this strategic move will help us focus on indigenously designing better products for India and the world.”
For India, climate action is not a challenge, but an opportunity
As Amitabh Kant, Sherpa, said at G20, Government of India, in the 9th Annual Forum of the Public Affairs Forum of India (PAFI), there is a huge opportunity for battery storage, and India can become a two-wheelers and three-wheelers exporting hub.
“For India, climate action is not a challenge, but an opportunity. It’s for two reasons – First, we are blessed in terms of climate and our entrepreneurial ecosystem. And the second is that India will become the first country to be industrialized without carbonizing, only with green hydrogen,” he said.
Kant explained that if the companies continued to take climate action, it would attract more capital speeding up the growth of the nation. Climate action is already prompting Indians to make a planet friendly choice in most things. The EV sector can take advantage and expand in a big way.