1. Bengaluru-based EV charging company Flextron announces new products.
Bengaluru-based B2B EV charging solutions provider ‘Flextron’, is ready to introduce the country’s 1st battery-integrated DC fast-charger 'FlexGrid'. The company claims that the new FlexGrid DC Charger is capable of recharging electric two & three-wheelers in just 10 & 15 minutes respectively (for e2w batteries up to 3 kWh & e3w batteries up to 8 kWh).
Apart from FlexGrid, the company also announced ‘FlexStack’, advanced battery packs boasting of smart battery management system (BMS) with smart cooling & chemistry-agnostic attributes. The startup's charging algorithm equalizes the cell's state of charge and transfers power between the cells with voltage difference to achieve balance in each cell and improve the overall performance of the battery pack courtesy a lower degradation rate. According to the company, FlexGrid & FlexStack “complement each other as a ideal pair of battery chargers & battery packs”. These patent-pending solutions are expected to be rolled-out in the market within the next three months. Flextron is planning to deploy around 200 FlexGrids within the next 2 years.
2. Karnataka achieves major milestone.
For the first time, the number of EVs registered in Karnataka has crossed the one lakh mark within a year. As per data from the Ministry of Road Transport and Highways, 1 lakh+ EVs were registered in the state from January 2023 till date. Last year, around 96,000 EVs were registered in Karnataka. This year, it has crossed the 1 lakh mark within 8 months!
3. India and South Korea discuss EV components in G20 Summit.
Prime Minister Narendra Modi held a series of bilateral meetings with world leaders on the sidelines of the G20 Summit. He also met South Korean President Yoon Suk Yeol and discussed issues of mutual interests. India & South Korea reviewed various facets of bilateral relations and agreed to further improve commercial & cultural relations between the two nations.
The South Korean President also congratulated the PM on the success of the Chandrayaan 3 mission. The leaders also noted that 2023 marks the 50th anniversary of establishment of the two country’s diplomatic relations. They reviewed progress on various areas of bilateral partnership with a special focus on semiconductors and EV battery tech.
4. Update on lithium reserves in Jammu and Kashmir.
Union Minister for Transport and Highways, Nitin Gadkari, recently stated that he met with Jammu & Kashmir government officials and asked them to accelerate the efforts for lithium mining. He also asked them to explore collaboration opportunities with the private sector. In February this year, India announced the discovery of 5.9 mn tonnes of lithium reserves in Jammu & Kashmir.
This discovery holds great importance for India considering the fact that the country's electric vehicle sector is majorly dependent on imports, especially from China. Domestic lithium mining will potentially lower the cost of lithium-ion batteries and make EVs more affordable in the country.
5. RR Kabel ready with IPO.
India’s leading wire & cable manufacturer RR Kabel is ready with its IPO. The IPO will open for subscription on 13 September, 2023 and close on 15 September, 2023.
Mumbai headquartered-RR Kabel is one of India’s leading wires, cables & fast-moving electrical goods (FMEG) manufacturers. The company has moved ahead with times and has invested in products like 5G telecom cables, EV charging cables, smart fans and designer lights.
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