A UK-based company called DG Innovate, which focuses on sustainable transportation and energy storage, led by former Tesla executives, announced its entry into India through a partnership with EVage Motors, a startup that makes electric trucks. They’ll jointly manufacture highly efficient electric motors, with DG Innovate owning 60% of the venture and EVage owning the rest.
DG Innovate, run by ex-Tesla director Peter Bardenfleth-Hansen, has teamed up with EVage Motors, an electric vehicle startup, to enter the Indian market. They’ll own 60% and 40% of the joint venture respectively, investing accordingly. They plan to build a manufacturing plant in Chandigarh to produce DG Innovate’s electric drive system called Pareta.
DG Innovate and EVage Motors Partner for Electric Motor Production in India
DG Innovate, led by CEO Peter Bardenfleth Hansen, has been eyeing the Indian market for its potential in electric vehicle (EV) adoption, green transition, and economic growth. After a year of evaluation, the company is excited to enter the market. EVage Motors’ Modular Miniature Manufacturing (M CUBE) micro-factory in Mohali, Punjab, will produce the electric motors. According to EVage Founder & CEO Inderveer Singh, the first batch is expected within the next 12-18 months.
Currently, the factory churns out more than one electric truck per day, totaling more than 300 to date. Once the motors are available, they’ll be accessible to all market players. Singh emphasized the significance of having DG Innovate’s advanced motor technology in India, highlighting its contribution to the country’s global reputation.
Growing Opportunities in India and Across Asia
Peter Bardenfleth Hansen, who left Tesla in 2019 to lead DG Innovate (DGI), expressed admiration for EVage Motors and its efficient production methods. He highlighted the growing opportunities in India and across Asia. Initially focused on research and development, DG Innovate collaborates with major transportation and energy manufacturers, research institutions, and the UK government. The company has already filed 18 patents, working on electric motor technologies and energy storage solutions.
Hansen, who became CEO in 2023, is supported by former Tesla executives Christian Eidem and Jochen Rudat. Together, they aim to target the Asian EV market by offering electric trucks with improved efficiency and reduced total ownership costs for fleet owners. These trucks are expected to achieve a 5-7% increase in range on a single charge. EVage Motors’ CEO, Inderveer Singh, explained that production volumes will be adjusted based on demand, with manufacturing lines set up accordingly.
EVage Motors: Driving EV Innovation in India
Founded in 2014 and headquartered in New Delhi, EVage is a leading supplier of electric trucks to companies like Amazon India. With over 150 employees from aeronautics and automobile backgrounds, EVage operates its R&D and robotics center in Mohali and Delhi.
In 2022, EVage secured $28 million in funding from US-based venture capital firm RedBlue Capital to finalize its production-ready factory. Now, with the joint venture’s in-house motor manufacturing capabilities, CEO Inderveer Singh aims to vertically integrate the company’s EV technology stack. Singh plans to utilize this technology across various platforms, accelerating the adoption of electric vehicles by providing homegrown core tech components through the joint venture.
DG Innovate’s flagship Pareta motor is compact, cost-effective, and claims to offer up to 30% more range compared to conventional motors, boasting 98.5% efficiency across the entire drive cycle. The factory will develop three motor variants ranging from 1 kW to 3 kW, suitable for buses, trucks, and smaller vehicles. Manufacturing is expected to commence within a year.
DG Innovate Expands Team with Tesla Expertise for India Business
DG Innovate has enlisted Pierre Pellerey and a team of former Tesla managers and engineers as consultants for its India operations. With over 15 years of experience in motor design, Pellerey has contributed significantly to the development of Tesla’s Model 3, Model Y, and Model S Plaid, as well as Dyson’s V10 motor.
The joint venture announcement coincides with significant progress in India’s EV ecosystem. In March, electric two-wheeler registrations surpassed 100,000 for the first time in a single month. This momentum is supported by the Indian government’s initiatives to promote EV adoption, including the launch of the INR 500 crore Electric Mobility Promotion Scheme 2024, effective from April 1 to the end of July. Additionally, authorities are working to establish a task force to chart a roadmap for the EV industry in India.
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