DG Innovate, a UK-based leader in sustainable mobility and energy storage solutions, has announced partnership with EVage Motors. This JV marks a significant move to enhance the commercialisation of DG Innovate’s Pareta electric drive system within the strategic Asian market, and positions EVage to become a vertically integrated commercial electric vehicle (EV) powerhouse.
By integrating the world’s most efficient electric motor, which boasts a 98.5% efficiency, into EVage’s vehicles, the JV aims to redefine standards in the EV sector. This motor efficiency is expected to offer an average range increase of 5%-7% on the same charge for EVage’s electric trucks, enhancing their appeal to fleet owners due to the reduced total cost of ownership.
The JV will bolster EVage's proprietary EV stack, allowing the company to enhance its product offerings significantly. Production of the Pareta electric drive system will take place in Punjab, India, leveraging local manufacturing capabilities to meet the rising demand in the Asian markets efficiently.
Ownership of the JV will be majority-held by DGI at 60%, with EVage holding the remaining 40%. Both companies have committed to substantial investments in the venture, demonstrating their confidence in the JV’s success and the Indian market’s potential.
The partnership will utilise EVage’s state-of-the-art Modular Miniature Manufacturing (Mcube) micro-factory, which is renowned for being India’s first native commercial EV platform. This facility currently produces over one electric truck per day and has manufactured over 300 trucks to date. These vehicles are already in service with leading FMCG, e-commerce, and logistics companies across India, including major clients like Amazon.
The JV will benefit from the advanced expertise brought in by Pierre Pellerey, recently appointed as a consultant to DGI. Pellerey’s extensive experience in motor design, which includes significant contributions to the Tesla Model 3, Model Y, Model S Plaid, and Dyson’s V10 motor, will play a crucial role in advancing the JV’s objectives. His designs currently power over 3 million electric vehicles globally.