The CEO of EVage just posted this.8 Jun 2024 09:30
Whilst the small investors panic and moan about DGI the CEO and founder of EVage (Indeveer Singh) is super complimentary about our company and looking at this LinkedIn post it seems like the MOU is now a joint venture. :
I am supercharged as I share this exciting news from last week: EVage Motors has entered into a strategic Joint Venture with probably the biggest name today, in motor technology, DGI Plc , a UK-based company founded by former core team members of Tesla.
At EVage, we've always been committed to offering electric commercial vehicles built with cutting-edge, yet commercially viable technology.
Almost two years ago, we made a conscious decision to choose LTO chemistry for our battery packs, prioritising safety, reliability, and performance for our fleet customers.
With this partnership, we're taking a giant leap forward by integrating DG Innovate’s revolutionary motor technology into our vehicles. Thanks to the unmatched 98.5% efficiency of their proprietary Pareta electric drive system, our customers can now expect superior vehicle performance along with significantly improved fleet utilization and productivity.
This JV couldn’t have come at a better time for us. The fact that DG Innovate, with its impressive lineage and expertise, chose to partner with us speaks volumes about our shared vision and potential.
The Indian economy is on track to surpass Japan and become the 4th largest in the world by FY25. With the government’s clear roadmap for electrification by 2030, the demand for EVs, especially commercial vehicles, is set to bloom over the next five years (Source: ET).
Together, we’re moving forward into the next phase of clean mobility.
Stay tuned!