EVage Motors and DG Innovate have announced a joint venture (JV). This strategic alliance intends to strengthen EVage’s standing as a vertically integrated commercial EV firm and hasten the commercialization of DG Innovate’s Pareta electric drive system.
With DGI owning 60% of the JV and EVage owning 40%, it is a big step to reach the important Asian market and provide fleet owners with more efficient electric trucks. By producing the Pareta electric drive system in Punjab, India, both businesses hope to increase the Asian EV market’s access to state-of-the-art technology, which will lead to more durable cars with lower ownership costs..
DGI joins the alliance with a wealth of industry experience, including a group of former Tesla engineers and management. Renowned motor design expert Pierre Pellerey, a consultant to DGI, joins the company and contributes his motor development expertise from building motors for legendary electric cars like the Tesla Model 3 and Dyson’s V10 motor.
Through the partnership, the most efficient motor in the world will be produced using EVage’s Modular Miniature Manufacturing (Mcube) micro plant. Leading FMCG, e-commerce, and logistics industries in India will be served by the factory’s enhanced production of electric trucks, which will also support the country’s first native commercial EV platform.
Peter Bardenfleth-Hansen, CEO of DGI, shared “This is a pivotal moment for DGI and we welcome our new partners at EVage. Asia is a critical market for the EV industry, and India in particular benefits from a leading manufacturing platform that will allow us to deploy our products at top speed and competitive costs. I also take this opportunity to re-iterate my welcome to Pierre, a true motor whisperer whose work powers some of the most iconic electric vehicles on the market. His expert advice will immensely enhance our partnership with EVage.”
Inderveer Singh, Founder & CEO of EVage, commented “We are thrilled to bring cutting-edge motor technology to India and create new, high-value engineering jobs. Together with DGI, EVage will produce world-class products aligned with PM Modi’s vision of make in India, make for the world. We are particularly thrilled to see pioneering ex-Tesla leaders like Peter look at India as a place of opportunities for the EV sector.”
