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In the three-wheeler segment, the collaboration will address both commercial and passenger vehicles markets (L3 and L5 categories), which are poised for strong growth in India in the coming years, the company said in a release.
Badve Engineering Group said it has already initiated the joint development and localisation process at one of its facilities in Pune for manufacturing the EV motors and is currently developing prototypes to cater to the Original Equipment Manufacturers (OEMs) in the country.
The company plans to ramp up its production to an annual capacity of 5 lakh units by mid-2023 to meet the rising EV demand, it said.
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The motor, which measures half the weight and size of competing electric motors, provides superior power and torque performance, Badve Engineering said in a release.
The electric two- and three-wheeler segments account for around 90 per cent of the total electric vehicle market in the country, the company said.
According to estimates, around 60 lakh three-wheelers are sold in India annually, and about 5 lakh of them are electric three-wheelers, the company said.
“We are excited about our partnership with EVR Motors. The ground-breaking EVR technology and our proven manufacturing expertise coupled with our strategic long-term customer relationships will ensure success of this partnership.
“This partnership is in line with our core vision of sustainability and net-zero emissions through green mobility. We are fully confident that these motors are best suited for adoption in the multi-terrain Indian landscape and will provide an enthralling experience to Indian riders,” said Sumedh Badve, President for EV division at Badve Engineering.
The strategic partnership with Badve Group offers multiple OEMs access to EVR’s advanced motor technology, tailored for the Indian market and made in India, said Opher Doron, CEO at EVR Motors.
“Together with other recently announced agreements, this partnership will expand our total addressable market to encompass the most significant OEMs in the strongest e2 vehicle market sectors in India. EVR is proud of the trust our customers place in us and our technology, and of the opportunity to play a significant role in electrifying Indian mobility,” he added.
Having 29 state-of-the-art facilities with high levels of automation, Badve Group specialises in automotive component manufacturing for the two-, three- and four-wheeler passenger and commercial vehicle segments.