Jayem Automotives to develop electric drive systems for the industry

City-based Jayem Automotives Pvt. Ltd has formed a new technology company to develop electric drive systems for the industry.

The new company,with expertise in design and development, will create power trains, battery packs and associated solutions in passenger and commercial vehicle space, Jayem Automotives Managing Director J Anand said in a release today.

Ratan Tata had given Jayem Automotives Rs 10 crore in February last year to initiate early development of electric cars, which was held as preference shares by Jayem, he said.

As business grew it was considered worthwhile to form a separate technology company along with Jayem Automotives to develop electric drive systems for the industry and Tata’s monetary contribution was transferred to that company, the name of which is yet to be revealed.

Jayem Automotives, therefore as of date does not hold any monetary contribution from Tata, Anand said.

Jayem is a new age automotive company with expertise in design, development, prototyping and production of exciting performance variants of automobiles.

Jayem works with world’s top companies and cutting-edge technologies spread across the spectrum of high performance automobiles, engines for the space sector and special performance engines.

Its associate motorsport company manufactures one of the fastest Formula racing cars for MRF in Asia with Jayem’s assistance.

Source: PTI

ALSO READ: 

India has potential to become largest EV exporter: Nitin Gadkari

Yamaha evaluating possibility of launching electric two-wheelers in India

Tata Motors delivers first batch of Tigor Electric Vehicles to EESL

Reva founder pitches for Rs 500 cr initial pvt-public fund to support building EV hub in Karnataka

 

Advertisment