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WEEKLY
EV NEWS
04th July to 08th July 2023

2. Vegh, an Electric Vehicle Startup,
Secures $5 Million in Pre-Series Funding
Vegh, a promising electric vehicle (EV) startup, has announced
a successful $5 million strategic pre-series investment round.
This milestone achievement comes as part of Vegh’s ongoing
pre-series funding campaign, which aims to secure a total of
$50 million. The funding, provided by an undisclosed investor,
will play a crucial role in supporting Vegh’s working capital
requirements, including the development of an extensive sales
and distribution network, expansion of manufacturing
capabilities for EV components, and increased investment in
research and development (R&D) initiatives.
WEEKLY EV NEWS

3. Lectrix EV Launches Instant Loan
Eligibility Pre-booking Tool with IDFC FirstBank
Lectrix EV, the electric vehicle brand from the SAR Group, has
launched a feature to check instant loan eligibility for any two-
wheeler on their website, without a paywall attached to the
process.
WEEKLY EV NEWS

4. Vitesco Technologies Unveils Electrication
Solutions for Two-wheelers in India
WEEKLY EV NEWS
Vitesco Technologies unveiled a diverse range of
electrication solutions for two-wheelers in India. Among the
showcased products was a demonstration of their 48-volt
system designed for electric light motorcycles and scooters.

5. Bajaj Auto’s Domestic Sales of Chetak
Electric Scooter Soar over Four-Fold in Fy23
WEEKLY EV NEWS
According to Bajaj Auto’s latest annual report, the domestic
sales of its electric scooter Chetak witnessed signicant
growth, increasing more than four-fold to 36,260 units in FY23.
This surge in sales was attributed to the easing of the global
semiconductor shortage that had impacted production in the
previous scal year. In FY22, as reported in Bajaj Auto’s
Annual Report for 2022-23, the Chetak electric scooter sold
8,187 units.

6. BNC Motors Unveils Impressive
Lineup Of Electric Vehicles In India
BNC Motors made a signicant impact at the Green Vehicle
Expo in Bangalore with the unveiling of their impressive electric
vehicle lineup, including the Challenger S110 Electric
Motorcycle, Perfetto Electric Scooter, and Boss S150
Performance Electric Motorcycle. They also introduced their
innovative in-house battery, the Etrol 40.
WEEKLY EV NEWS

7. TVS Motor Company Records 3% Sales
Growth in June 2023, with Domestic Sales
Growing by 22%
TVS Motor Company Records 3% Sales Growth in June 2023,
Two-Wheeler and Electric Vehicle Sales Show Positive
Momentum. In June 2023, TVS Motor Company experienced a
3% increase in sales, with the total units sold reaching 316,411
compared to 308,501 units in June 2022.
WEEKLY EV NEWS

8. BLive’s Strategic Alliance to Introduce
Electric Vehicles Across 20 Indian Cities
BLive has formed a strategic alliance to introduce its electric
vehicles (EVs) in 20 cities across India, commencing in
Hyderabad with an initial eet. To achieve this objective, the
company has introduced an innovative Rent-to-Own model, a
rst-of-its-kind in the country, enabling delivery riders to
become EV owners without any upfront payment. This
endeavor tackles the difculties encountered by these riders,
including restricted nancial opportunities stemming from low
credit scores and substantial upfront payment obligations.
WEEKLY EV NEWS

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