ICRA Projects Rs. 25,000 Crore Capex For EV Components; Bounce Infinity Teams Up With BaaYu To Boost EV and More...

ICRA, a leading credit rating agency, predicts a surge in capital expenditure (capex) for electric vehicle (EV) components, surpassing Rs. 25,000 crore in the upcoming 3-4 years. The burgeoning Indian EV market, bolstered by governmental support and increasing awareness, is set to drive significant investments in EV infrastructure and technology.

Bounce Infinity, a prominent Bengaluru-based leader in electric scooters, has announced a strategic partnership with BaaYu, an EV Bike-Taxi initiative by Bikozee Ecotech Pvt. Ltd. partners with Assam State Transport Corporation (ASTC). This collaboration aims to expand the presence of electric vehicles (EVs) in Assam, marking a significant milestone in Bounce Infinity’s mission to enhance the accessibility and efficiency of electric transportation across India.

Ecofy , a prominent green-focused Non-Banking Financial Company (NBFC), and Vidyut, an innovative platform specializing in enhancing affordability for electric three-wheeler ownership, have announced a strategic alliance aimed at advancing sustainable transportation solutions. Under this partnership, Ecofy will provide financing while Vidyut will introduce a subscription-based battery-as-a-service model, ensuring accessible electric vehicle (EV) solutions.

Hero Lectro, the e-cycle brand of Firefox Bikes Ltd., introduces its latest innovation: Muv-E, a groundbreaking cargo e-cycle designed for fleet operators, small business owners, and delivery riders. Priced at INR 61,999, the sleek black Muv-E caters to last-mile delivery needs with thoughtful design features.