After 7 years of rigorous Research and Development (R&D), a young entrepreneur based in the city, Inderveer Singh Panesar, and his team have successfully ventured into the manufacturing of electric light commercial vehicles. These vehicles can be fully charged in just 20 minutes and cover a distance of up to 100 kilometers on a single charge. The smart truck, with a 1-tonne capacity, is produced under the startup name ‘EVage’ at a sprawling 2 lakh square feet factory in Banur, near Chandigarh, capable of producing up to 2800 vehicles per annum.
These trucks are currently on display at the Renewable Energy and Electric Vehicle Exhibition (REEVE), 2023, being held at Parade Ground until September 24. The UT Adviser also visited the EVage display today and praised the startup founded by Inderveer.
Inderveer Singh Panesar, Founder & CEO of EVage, stated, “It is a matter of great satisfaction that we have been able to create a fully ‘Made in India’ truck and that we are employing nearly 150 people, mainly in high-end jobs.”
“At the moment, there are approximately 100 electric light commercial vehicles operational in the tricity. My estimate is that in the next 12 months, as much as 50 percent of product deliveries in the tricity will be made using electric light commercial vehicles,” added Inderveer Singh Panesar.
Inderveer Singh Panesar mentioned that his trucks operate in automatic mode, making them easy to drive. What’s more, there is no vibration and noise. EVage has already installed five (5) charging stations in the tricity.
Inderveer Singh Panesar believes that FMCG and E-commerce companies will be the main buyers of such trucks for the transportation of their goods. He sees the ‘Electric Light Commercial Vehicles’ industry as a sunrise industry with significant potential in the future. According to Panesar, as many as 6 lakh light commercial goods vehicles are sold in India every year, and currently, only 3-5 percent of these are EVs. However, this figure is expected to exceed 50 percent by 2030.
“We plan to expand our presence ambitiously. We will be opening experience centers across Punjab this year, starting from Ludhiana, and across North India next year. In the next 3 years, our plan is to establish a nationwide presence,” summed up Inderveer Singh Panesar.”
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