EVage/Dgi, a little patience needed.26 Jun 2024 14:23
The UK-based advanced R&D firm DG Innovate announced its entry into the electric vehicle market through a groundbreaking partnership with EVage Motors. Under the terms of the joint venture, DG Innovate will own 60% and EVage the remaining 40%. Together, they will produce electric motors with an efficiency of approximately 98.5%.
DG Innovate, founded by three former Tesla executives, is currently working on product development with several major manufacturers in the transportation and energy domains, as well as academic institutions and the United Kingdom government. “Asia is a crucial market for the electric vehicle (EV) industry, and India in particular offers advantages in terms of a top-notch manufacturing infrastructure that will enable us to launch our products quickly and affordably,” said Peter Bardenfleth-Hansen, CEO of DG Innovate.