DG Innovate announced its entry into the Indian market through a joint venture (JV) with EVage Motors, an electric truck manufacturing startup.
In this strategic partnership, DG Innovate will hold a majority stake of 60 percent, with the remaining 40 percent owned by EVage Motors. The focus of the collaboration is on manufacturing electric motors boasting an impressive efficiency rate of approximately 98.5 percent.
Peter Bardenfleth Hansen, CEO of DG Innovate, expressed the company’s enthusiasm for entering the Indian market, citing the country’s potential for electric vehicle (EV) penetration, green transition, and economic growth. He emphasized that this decision follows meticulous evaluation over the past year, underlining the company’s commitment to the Indian market.
DG Innovate plc (LON:DGI) is an advanced research and development company pioneering sustainable and environmentally considerate improvements to electric mobility and storage, using abundant materials and the best engineering and scientific practices. Deregallera is a subsidiary of DG Innovate.
