1. World’s largest infrastructure asset management group Macquarie makes a splash in India’s EV market.
Macquarie Asset Management, a division of Australia’s Macquarie Group, is set to invest $1.5 billion (around Rs 12,500 crore) in India’s EV sector through its new platform ‘Vertelo’. The platform aims to electrify conventional fleets and establish a comprehensive EV ecosystem. It will offer services like EV leasing & financing, charging infrastructure, fleet management solutions & end-of-life vehicle management. Vertelo is backed by UN’s Green Climate Fund with an investment commitment of up to $200 million (around Rs 1,668 crore), over the next 10 years.
Recently, Vertelo signed a long-term lease agreement with ‘Chalo Mobility’, a transport tech company, to operate 44 electric buses in Mumbai, manufactured by JBM Auto. Macquarie also recently acquired a stake in ChargeZone, an EV charging infrastructure company specializing in fast charging. Vertelo has finalized plans to procure 2000 XPRES-T EV electric cars from Tata Motors, in the next 3 years.
Apart from the above, Vertelo has plans to purchase up to 2000 electric buses each from JBM Auto & EKA Mobility within the next 5 years.
2. EV cab company BluSmart launches campaign to encourage people to vote.
EV cab service company BluSmart has launched a ‘Smart Citizen’ campaign to motivate citizens to vote on election day. The initiative aims to generate awareness and mobilize voters in Delhi-NCR & Bengaluru to participate in the ongoing 2024 Lok Sabha Elections.
On polling dates in Delhi NCR & Bengaluru, BluSmart will offer discounted rides to customers. BluSmart passengers, travelling anywhere within 30 kms of polling stations, will be provided a one-time discount of 50%. This offer can be availed from 6 AM to 7 PM, on polling days in the above mentioned cities.
A month long election awareness campaign is already underway via online & offline modes such as pamphlets inside BluSmart cabs, app notifications, emails & social media posts.
3. Auto components company Pavna Industries signs agreement with Ola Electric.
Shares of automotive components manufacturer ‘Pavna Industries’ were locked in 5% upper circuit after the company announced that it has signed an agreement with Ola Electric. As per the agreement, Pavna Industries will supply ignition switches & latches to Ola Electric.
The Aligarh (Uttar Pradesh)-based Pavna Industries manufactures ignition switches, fuel tank caps, latches, auto locks, oil pump, throttle body, fuel cocks, casting components, etc. The company exports its products as well to countries like Italy, Sri Lanka, Indonesia, Sudan, USA & Bangladesh. Now, Pavna is working on expanding its product range to cater to the EV segment.
4. MG installs 500 EV chargers in 500 days.
MG India has set-up 500 EV chargers in 500 days under its ‘MG Charge’ initiative. MG & its partners Exicom, ElectreeFi, eChargeBays, IONAGE, Statiq & Highway Delite, have installed 7.4 kW chargers, averaging one installation per day, in 50 Indian cities.
The MG Charge initiative is aimed at installing 1000 EV charging points in 1000 days across the country.
5. Okaya EV’s premium brand Ferrato to launch its first electric motorcycle on 2nd May.
Ferrato, the new premium brand of Okaya Electric Vehicles, is all set to launch its first product, an electric motorcycle named ‘Disruptor’, on 2nd May. The company has commenced pre-bookings of this electric motorcycle on its official website. The first 1000 customers can pre-book the EV for just Rs 500. After this exclusive pre-booking phase, the token amount will increase to Rs 2500. Prices of the Disruptor will be revealed on the day of its launch (May 2). The Ferrato Disruptor will come with a 3.97 kWh LFP battery which is expected to give a range of 129 km. The claimed top speed is 95 km/hr.
Okaya had previously announced that they will have separate dealerships & service centres for Ferrato. The company plans to open 100 dealerships for the premium brand.
For complete EV charging solutions, explore the Kazam website.
