DG Innovate, a UK-based advanced R&D company specialising in sustainable mobility and energy storage, has announced a joint venture (JV) with EVage Motors. This strategic partnership aims to accelerate the commercialisation of DG Innovate's Pareta electric drive system while bolstering EVage's position as a vertically integrated commercial EV company.
The JV, with a 60% ownership by DGI and 40% by EVage, signifies a significant step towards tapping into the strategic Asian market and offering more efficient electric trucks to fleet owners. By manufacturing the Pareta electric drive system in Punjab, India, both companies aim to enhance the Asian EV market's accessibility to cutting-edge technology, resulting in longer-lasting vehicles and reduced ownership costs.
DGI brings extensive industry expertise, including a team of former Tesla managers and engineers, to the partnership. Pierre Pellerey, a consultant to DGI and a veteran in motor design, joins the venture, leveraging his experience in developing motors for iconic electric vehicles such as the Tesla Model 3 and Dyson's V10 motor.
The collaboration will see the production of the world's most efficient motor, utilising EVage's Modular Miniature Manufacturing (Mcube) micro factory. Already supporting India's first native commercial EV platform, the factory is set to produce an increased volume of electric trucks, servicing leading FMCG, e-commerce, and logistics companies across India.
Peter Bardenfleth-Hansen, CEO of DGI, shared “This is a pivotal moment for DGI and we welcome our new partners at EVage. Asia is a critical market for the EV industry, and India in particular benefits from a leading manufacturing platform that will allow us to deploy our products at top speed and competitive costs. I also take this opportunity to re-iterate my welcome to Pierre, a true motor whisperer whose work powers some of the most iconic electric vehicles on the market. His expert advice will immensely enhance our partnership with EVage.”
Inderveer Singh, Founder & CEO of EVage, commented “We are thrilled to bring cutting-edge motor technology to India and create new, high-value engineering jobs. Together with DGI, EVage will produce world-class products aligned with PM Modi’s vision of make in India, make for the world. We are particularly thrilled to see pioneering ex-Tesla leaders like Peter look at India as a place of opportunities for the EV sector.”