LONDON: DG Innovate plc (LSE: DGI), a leader in sustainable mobility and energy storage solutions, has announced a joint venture with Indian electric vehicle maker EVage Automotive Pvt. Limited. The agreement aims to manufacture and supply DG Innovate’s Pareta® e-drives. This follows a Memorandum of Understanding signed earlier this year.

The new joint venture company, Pareta® India, will be 60% owned by DGI and 40% by EVage. DGI will design electric motors and provide the necessary technology and intellectual property, while EVage will manage manufacturing operations in Chandigarh, Punjab.

The joint venture will produce a range of electric motors for various e-mobility customers, including both EVage and third parties, in India and internationally. DGI will receive a license fee for each motor sold in India, while the joint venture will also supply motors for DGI’s international sales.

Three initial motor types are planned:

1. 80 kW Motor (P80): For light commercial and compact electric vehicles. Production to start in early 2025, with over 70,000 units expected in four years.

2. 150 kW Motor (P150): For mid-sized passenger vehicles, SUVs, and medium-duty trucks. Over 18,000 units projected in four years.

3. 315 kW Motor (P315): For heavy-duty trucks, buses, and industrial machinery. Over 9,500 units expected in four years.

EVage CEO Inderveer Singh expressed excitement about the partnership, highlighting the efficiency and performance benefits of the Pareta® motors. DGI CEO Peter Bardenfleth-Hansen shared his enthusiasm, noting the strategic importance of the partnership in the growing Indian e-mobility market.

EVage is known for supplying electric vans to companies like Amazon and Ikea, and their expertise will be crucial in this new venture. The collaboration is expected to significantly boost the production and adoption of innovative electric motor technology in India and beyond.

DG Innovate teams up with commercial vehicle giant to develop eco-friendly systems