MyPickup, a subscription-based electric mobility startup backed by Inflection Point Ventures (IPV), has announced that it is shutting down operations after three years of trying to redefine urban commuting. The company, which launched in February 2023 with a mission to offer predictable and affordable electric auto-rickshaw services, cited difficulties in achieving product-market fit (PMF) and a…
In a game-changing move, Hero MotoCorp, one of the world’s largest motorcycle and scooter manufacturers, has invested a massive $60 million (₹525 crore) in Euler Motors, a rapidly growing electric vehicle (EV) startup. This investment not only gives Hero MotoCorp a significant stake in Euler Motors but also marks the company’s bold entry into the fast-evolving electric three-wheeler…
In a significant move within the electric vehicle (EV) sector, Kartik Hajela, the cofounder and Chief Operating Officer (COO) of Log9 Materials, has stepped down from his role at the deeptech startup. He’s now taken on the position of Director at Jupiter Electric Mobility (JEM), where he will oversee the company’s electric light commercial vehicle (e-LCV) segment. This shift comes just a…
Electric two-wheeler and three-wheeler manufacturers are bracing for a new wave of testing and recertification as they prepare for the anticipated launch of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-III) scheme. According to recent updates from the Automotive Research Association of India (ARAI) and other key certification bodies under the Ministry of Heavy…
In a major boost for electric two-wheeler buyers, the Indian government has extended the Electric Mobility Promotion Scheme 2024 (EMPS 2024) by two months, now running until September 30, 2024. The scheme’s funding has also been significantly increased from Rs. 500 crore to Rs. 778 crore.
Launched on April 1, 2024, EMPS 2024 is designed to accelerate India’s transition to electric vehicles…
