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Ratan Tata-promoted Electrodrive Powertrain Solutions, or Electra EV, is looking at expansions in overseas markets like Europe for its complete powertrain solutions, including battery packs to be used in electric vehicles (EVs) and even boats.
The company is a successful battery maker and has supplied the whole powertrain solutions to Tata Motors for its Tigor EV and light commercial vehicle Ace EV.
“We are working on a compact tractor for the overseas market, a regular tractor for the Indian market, two versions of a microcar for the overseas market, one sports utility vehicle (SUV) for the Indian market, and an excavator for Tata-Hitachi, commissioned to us for two versions of it. These are mostly in the developmental phase right now,” Samir Yajnik, Chief Executive Officer and Executive Director, Electra EV, told businessline.
The Pune-headquartered company, which has facilities in Coimbatore (Tamil Nadu), is also working on two-wheelers, and “half a dozen” of three-wheeler companies have approached it, only for supplying 5.4 kWh to 11.6 kWh battery packs, Yajnik informed.
“We are working on a dozen different projects, three of which are supposed to come out in this year itself; one of them is a reverse trike (two wheels in the front and one wheel at the rear); these are the kinds of products that we are working on. And, of course, bidding for three marque projects on electric cars — one European, one Japanese, and one Chinese company,” Yajnik said.
However, he declined to name the companies or details of any project because of the non-disclosure agreement (NDA) with the manufacturers. He said Electra is working on the indigenisation of the powertrain for any kind of electric vehicle to be manufactured in India, whether it is by a Japanese, Chinese, or European company.
On investment, Yajnik said that currently, around a sizeable chunk of of $25 million (around ₹210 crore) the company raised through GEF Capital in 2022 is being utilised for product solutions. In total, Electra EV has spent over $100 million over the last five years, he added.
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