Electra EV, backed by Ratan Tata, is expanding into new markets, including Europe, with its electric powertrain solutions. The company, which supplies battery packs and powertrains for Tata Motors’ Tigor EV and Ace EV, is exploring projects in various sectors.
“We’re developing a compact tractor for overseas, a regular tractor for India, two versions of a microcar for overseas, an SUV for India, and an excavator for Tata-Hitachi,” said CEO Samir Yajnik. These projects are in the developmental phase.
The Pune-based company, which also has facilities in Coimbatore, Tamil Nadu, is developing two-wheelers. Additionally, “half a dozen” three-wheeler companies have approached it for 5.4 kWh to 11.6 kWh battery packs, according to Yajnik.
“We are working on about twelve different projects, with three expected to launch this year. One of these is a reverse trike with two wheels in the front and one at the back. We are also bidding on three major electric car projects with companies from Europe, Japan, and China,” Yajnik said.
However, he did not disclose the names of the companies or project details due to non-disclosure agreements (NDAs) with the manufacturers. He mentioned that Electra is focusing on localizing the powertrain for electric vehicles to be made in India, whether for Japanese, Chinese, or European companies.
Regarding investments, Yajnik stated that a significant portion of the $25 million raised through GEF Capital in 2022 is currently being used for product solutions. He added that Electra EV has spent over $100 million in the past five years.
Electra EV is broadening its reach into new markets, including Europe, with its electric powertrain solutions. The firm, which provides battery packs and powertrains for Tata Motors’ Tigor EV and Ace EV, is working on various projects across different sectors.
