CORPORATE NEWS snippets
Saietta Group and Padmini VNA to jointly develop motors for EVs
British electric motor manufacturer Saietta Group has signed an agreement to partner with Gurugram based automotive supplier Padmini VNA to help introduce Saietta’s branded Axial Flux Technology (AFT) motors to the growing electric vehicle market in India. Padmini’s customer base includes two-wheeler OEMs like Hero MotorCorp, TVS, Bajaj Auto, and Royal Enfield.
Qpi Technology planning manufacture of solid-state batteries
Dr Nagendra Nagaraja, founder, CEO, and chairman of Qpi Technology has announced a new subsidiary, Qpivolta, to manufacture solid-state batteries, and in future all-important Quantum batteries to power anything from cell phones, EVs, energy utilities, and spaceships. The company is looking to partner with battery suppliers, distributors, electronics OEMs, and EV manufacturers around the world.
Bajaj Electricals now wholly acquires Starlite Lighting
Bajaj Electricals has acquired the remaining stakes of Starlite Lighting Ltd (SLL) for 600 million rupees from its promoters. SLL, which registered a turnover of 1,729 million rupees in FY 2019-20, was a joint venture engaged in the business of manufacturing different consumer electrical products, including lighting products like compact fluorescent (CFL) and light-emitting diode (LED) lamps, and consumer electrical appliances.
Revolt Intellicorp receives investment from RattanIndia
Announcing its venture into the electric vehicles sector, RattanIndia Enterprises is investing 1,500 million rupees in e-bikes firm Revolt Intellicorp for a 50% board presence in the company. Revolt Intellicorp will use this partnership to expand its footprint in India. This deal happens to be the first investment of RattanIndia Enterprises in a new age manufacturing business. As part of the deal, Rajiv Rattan will be chairman of the board of Revolt.
Ola Electric to launch e-scooter and set up charging network
Ola Electric is all set to advance its efforts to electrify mobility in India, and in a similar sentiment has announced the launch of its branded electric scooter in the home market in July this year. In addition, Ola is also looking to set up 100,000 charging points across 400 cities through a hypercharger network.
Mouser Electronics and Nidhi Prayas inaugurate innovation labs
Electronic components and chip distributor Mouser Electronics Inc inaugurated the Nidhi Prayas Lab and Mouser Innovation Lab at DERBI Foundation in Bangalore. Mouser is collaborating with DERBI Foundation and the Nidhi Prayas to empower innovators and startups to shorten the ideation-to-market time in the next-gen product space and grow into tomorrow’s tech giants. Mouser Electronics will provide the equipment, components, and kits for the Mouser Innovation Lab and provide technical mentoring to the members.
Route Mobile acquires AI platform provider Phonon Communications
Cloud communication service provider Route Mobile has acquired AI platform provider Phonon Communications Pvt Ltd for an all-cash deal of 290 million rupees. The acquisition allows Route Mobile to leverage Phonon’s supercharged customer experience platform and enable brands to deliver personalised experiences across digital touchpoints.