1. Indian scientist announces tech for 10-minute EV charging!
Indian-origin scientist Ankur Gupta, working at Colorado Boulder University in the US, made an announcement regarding the discovery of a radical new technology which has application in superfast EV charging. Gupta’s research has been published in the journal of the National Academy of Sciences. The new study is based on the use of 'supercapacitors', which can store & deliver energy quickly.
In his research, Ankur Gupta explains that a battery’s charging process depends on the movement of ions (small charged particles) within a complex microscopic pore structure. To efficiently store this energy, a high-capacity storage device like a supercapacitor can gather ions within its pores, allowing it to charge much faster than traditional batteries do. The implementation of supercapacitors in EV chargers could considerably reduce charging times, making them even faster than the average time needed to charge a smartphone! The potential of supercapacitors in EV charging could transform the electric vehicle market. Currently, one of the main impediments for potential EV buyers is the rather long charging time & a lack of sufficient EV charging infrastructure.
2. Mirae Asset Mutual Fund files draft to launch India’s 1st ETF focused on EVs.
A key player in the country’s mutual fund industry, Mirae Asset Mutual Fund, has filed a draft document with SEBI for regulatory approval to launch India's first EV-focused exchange-traded fund (ETF). Mirae Asset's ‘Nifty EV & New Age Automotive ETF’ will be an open-ended scheme designed to track the Nifty EV & New Age Automotive Total Return Index. This index, recently launched by NSE, comprises companies from the electric vehicle & new-age automobile sector.
Mr Swarup Anand Mohanty, CEO of Mirae Asset India, gave a statement: “The long term potential for EV & several other disruptions in the auto space is huge. Through this product, we want to provide an option for investors to take exposure in a portfolio of such companies."
3. BGauss announces the launch of a new electric scooter.
BGauss, backed by RR Kabel, has announced the launch of a new electric scooter RUV350. The company is posturing the RUV 350 as a dynamic scooter capable of handling various terrains. These claims are part of the company's strategy to stand out in the country’s competitive electric scooter market. The new scooter will be launched on 25 June. Technical specifications like battery capacity & range will be revealed at the launch event.
BGauss has a state-of-the-art manufacturing facility in Chakan, Pune, and a network of 125 dealerships across India.
4. Courier company Blue Dart expands its EV fleet.
Courier company Blue Dart has announced an expansion of its EV fleet in a bid to cut down emissions. This initiative, announced on World Environment Day, aligns with the company’s commitment to reduce its carbon footprint.
Blue Dart has now expanded its electric vehicle fleet to over 480 vehicles (electric two, three & four-wheelers combined).
5. Amara Raja exploring new partnership for lithium-ion cell manufacturing.
Amara Raja, manufacturer of Amaron batteries, is exploring a new partnership to strengthen its capabilities in lithium-ion cell manufacturing, including a larger portfolio of cells across chemistries which can help cater to a broader market.
The company has already announced its plans to set-up a gigafactory for manufacturing lithium-ion cells & battery packs in Telangana. It recently joined hands with a Chinese company to jointly develop an NMC 2170 cylindrical cell. The giga factory will initially start commercial production with these NMC cells, and later start work on other cell chemistries like LFP. The NMC cells will be mainly for the electric two-wheeler market.
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