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Ratan Tata-promoted Electrodrive Powertrain Solutions, or Electra EV, is gearing up for expansions in international markets, including Europe, with its comprehensive powertrain solutions, encompassing battery packs for electric vehicles (EVs) and even boats. The company, already a successful battery maker, has supplied complete powertrain solutions to Tata Motors for its Tigor EV and the Ace EV light commercial vehicle.
“We are developing a compact tractor for the overseas market, a standard tractor for the Indian market, two versions of a microcar for the overseas market, one SUV for the Indian market, and an excavator for Tata-Hitachi in two versions. These are mostly in the developmental phase right now,” Samir Yajnik, CEO and Executive Director of Electra EV, told BusinessLine.
Headquartered in Pune, with facilities in Coimbatore, Tamil Nadu, Electra EV is also venturing into two-wheelers and has been approached by half a dozen three-wheeler companies for battery packs ranging from 5.4 kWh to 11.6 kWh, Yajnik added.
“We are working on a dozen different projects, three of which are expected to launch this year; one of them is a reverse trike (two wheels in the front and one wheel at the rear). These are the types of products we are developing. Additionally, we are bidding for three marquee projects on electric cars — one each from a European, Japanese, and Chinese company,” Yajnik said.
Due to non-disclosure agreements, Yajnik declined to name the companies or provide details of the projects. However, he emphasized that Electra EV is focused on the indigenization of powertrains for electric vehicles to be manufactured in India, regardless of the companys origin.
Regarding investments, Yajnik mentioned that a significant portion of the $25 million raised through GEF Capital in 2022 is currently being utilized for product solutions. Overall, Electra EV has invested over $100 million in the past five years. |
