MG Motor India to now bolster India's EV startup ecosystem

  • IANS
  • Stock Market News
MG Motor India to now bolster India's EV startup ecosystem
Credit: © Reuters.

New Delhi, Oct 10 (IANS) MG Motor India and its consortium members on Monday launched the fourth edition of its Developer Programme and Grant (MGDP) to accelerate, mentor and incubate innovative Indian startups in the field of electric mobility, as the country aims to obtain 50 per cent of its installed electricity capacity from non-fossil sources by 2030.

Over the course of its previous three editions, the programme received entries from over 830 auto-tech startups. Out of these, around 180 startups including Koinearth, Electreefi, Voxomos, Redbot Technologies, and Mihup were identified, encouraged, and mentored by MG and its consortium members.

In the fourth edition, the carmaker has partnered with Invest India and Startup India as lead partners and Jiobp, Exicom, Fortum, CESL, Attero, MapmyIndia, and Bosch (NS: BOSH ) as the technology partners.

"MGDP Season 4 aims to facilitate a positive change in the industry by creating a space for EV innovators from across the country to collaborate and develop novel solutions. This is a platform that seeks to unite the best brains of the industry to come together and innovate ideas that have the potential to change the EV landscape," said Rajeev Chaba, President, and Managing Director of MG Motor India.

This year's MG Developer Programme will focus on areas such as charging infrastructure, fleet management, electric components, electric batteries, green energy solutions, EV battery life cycle management, connected car solutions, and Battery-as-a-service (BaaS).

"Furthermore, it will stimulate the development of innovative concepts in the Indian automotive industry, leading to further progression and growth. We look forward to uncovering some innovative solutions through this initiative," said Deepak Bagla, Managing Director and CEO of Invest India.

--IANS

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