The corporate is a profitable battery maker and has equipped the entire powertrain options to Tata Motors for its Tigor EV and light-weight business car Ace EV.
“We’re engaged on a compact tractor for the abroad market, a daily tractor for the Indian market, two variations of a microcar for the abroad market, one sports activities utility car (SUV) for the Indian market, and an excavator for Tata-Hitachi, commissioned to us for 2 variations of it. These are principally within the developmental section proper now,” Samir Yajnik, Chief Govt Officer and Govt Director, Electra EV, informed businessline.
The Pune-headquartered firm, which has services in Coimbatore (Tamil Nadu), can be engaged on two-wheelers, and “half a dozen” of three-wheeler corporations have approached it, just for supplying 5.4 kWh to 11.6 kWh battery packs, Yajnik knowledgeable.
“We’re engaged on a dozen totally different tasks, three of that are supposed to return out on this yr itself; considered one of them is a reverse trike (two wheels within the entrance and one wheel on the rear); these are the sorts of merchandise that we’re engaged on. And, after all, bidding for 3 marque tasks on electrical vehicles — one European, one Japanese, and one Chinese language firm,” Yajnik mentioned.
Nevertheless, he declined to call the businesses or particulars of any mission due to the non-disclosure settlement (NDA) with the producers. He mentioned Electra is engaged on the indigenisation of the powertrain for any form of electrical car to be manufactured in India, whether or not it’s by a Japanese, Chinese language, or European firm.
On funding, Yajnik mentioned that at present, round a sizeable chunk of of $25 million (round ₹210 crore) the corporate raised by way of GEF Capital in 2022 is being utilised for product options. In complete, Electra EV has spent over $100 million over the past 5 years, he added.
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