Lithium Urban Technologies acquires SmartCommute, electric two wheelers sales, Maharashtra EV Policy 2021 and more

This week’s Wrap includes acquisition of SmartCommute, electric two wheelers sales market, Maharashtra Policy 2021, Cellestial E-mobility and to set up battery plants

Lithium Urban Technologies acquires SmartCommute

Lithium Urban Technologies has reportedly acquired SmartCommute, a software-as-a-service (SaaS) platform that provides end-to-end transportation services to corporate employees. According to Economic Times, the largest fleet operator of electric vehicles in Indiam Lithium Urban Technologies will explore the SaaS domain as a new business vertical to scale up its presence in the multi-billion dollar corporate employee transportation industry.

Electric two wheelers to account for 8 to 10% of new sales by 2025 and 3-wheelers to contribute 30% says I C R A

The electric two and three-wheelers volume are expected to account for 8-10 percent and 30 percent of new vehicle sales in the country by 2025, respectively, owing to low operating cost and attractive subsidy support, among others, ratings agency ICRA said. The penetration levels in cars and trucks, however, are likely to remain low in the medium-term, it said.

Maharashtra government expects 10 per cent of all new vehicles registered in the state would be electric vehicles by 2025.

The Maharashtra government has recently announced that it expects 10 per cent of all new vehicles registered in the state would be electric vehicles (EVs) by 2025. The share of EVs in new vehicle registrations across the state in 2025 is likely to be 10 per cent for all vehicles, 10 per cent for two-wheelers, 20 per cent for three-wheelers, and 5 per cent for four-wheelers, the draft Electric Vehicles Policy 2021 said. It also envisages setting up at least one Gigafactory for the manufacturing of advanced in the state to cater to the expected demands.  At a virtual conference to discuss the future of electric mobility, Additional Chief Secretary A K Singh announced key highlights of the draft Electric Vehicles Policy 2021, which awaits the clearance of the state Cabinet.

Cellestial E-mobility raises USD 500000 funding

Cellestial E-mobility based maker of the first electric tractor in India raised USD 500000.This round of strategic financing included the Co- founder of Electric Motor Company, Ashik Karim, Founder of UpCapital Investments, Canada’s leading financial advisory group who have not just invested but expressed a deeper interest in supporting the company’s growth in branding and stewardship, a release from the startup said .

to set up battery plants for electric vehicles in Japan and Britain says a Report

Nissan Motor is partnering with -based battery maker Envision AESC group to build new battery plants for electric vehicles in Japan and United Kingdom and will invest over $1.82 billion reports Nikkei. According to the publication the firm will start turning out in two new plants as early as 2024, aiming for total capacity sufficient to power 700,000 electric vehicles per year.

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