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Charging up electric mobility for the gig economy: How Chargeup is writing its business playbook

YourStory

YourStory · 23d ago

Charging up electric mobility for the gig economy: How Chargeup is writing its business playbook

Chargeup, co-founded by Satish Mittal and Varun Goenka, aims to facilitate electric vehicle (EV) adoption in India by addressing challenges like battery management and financing for gig workers. The company offers tailored leasing solutions, battery swapping, and tech-enabled devices for monitoring battery health. With 300 battery swapping stations and 8,000 drivers onboard, Chargeup plans significant expansion. It leverages technology to improve driver credit scores, securing better financial prospects while mitigating EV operational issues.

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Magenta Mobility Shrugs Off Charging Infra Biz Sell Out; In Talks To Transfer A Few Charging Assets

Inc42 · 1y ago

Magenta Mobility Shrugs Off Charging Infra Biz Sell Out; In Talks To Transfer A Few Charging Assets

Magenta Mobility, an Indian electric mobility startup, has denied claims that it is selling off its public charging infrastructure business to Jio-bp. While the company confirmed ongoing discussions to transfer some charging assets to Jio-bp, it clarified that there is no acquisition of Magenta's charging business itself. Magenta currently operates 69 charging depots in India and plans to sell assets of a few charging stations that are not profitable. Jio-bp is a joint venture between Reliance Industries and UK-based oil major bp.

EV battery maker Exponent eyes funding to grow rapid charging business

Economic Times

Economic Times · 1y ago

EV battery maker Exponent eyes funding to grow rapid charging business

Battery manufacturer Exponent plans to secure funding to expand its rapid charging business. The company aims to enhance its infrastructure for fast-charging solutions, catering to the growing electric vehicle market. Exponent's pursuit of funding underscores its commitment to supporting the EV ecosystem by providing efficient and accessible charging options, contributing to the broader transition towards sustainable mobility solutions.

Exclusive: Battery Smart To Raise $45 Mn From Acacia, MUFG, Existing Investors

Inc42 · 1y ago

Exclusive: Battery Smart To Raise $45 Mn From Acacia, MUFG, Existing Investors

Delhi-based battery-swapping startup Battery Smart is set to raise around INR 376.3 crore (approximately $45 million) in a Series B funding round. Both existing and new investors, including Acacia Inclusion Ltd, MUFG Bank, and Panasonic-Kurashi Fund, will participate in the investment. Following the funding, Battery Smart is valued at approximately $350 million. The capital raised will be used for business growth and expansion. Battery Smart offers battery swapping solutions and charging infrastructure in Delhi NCR and competes with other players such as Chargeup and Sun Mobility in the battery swapping space.

Sanjeev Bikhchandani on BluSmart: ‘Drivers are worst hit’

Economic Times

Economic Times · 2m ago

Sanjeev Bikhchandani on BluSmart: ‘Drivers are worst hit’

BluSmart Cabs, an electric mobility startup, shut down operations, raising concerns about corporate governance and the vulnerability of gig economy workers. Sanjeev Bikhchandani, founder of Info Edge, expressed disappointment and highlighted governance issues following regulatory actions by India's Securities and Exchange Board. The orchestration of financial irregularities led to the suspension of operations across several cities, affecting cab drivers' incomes. Co-founders Anmol and Puneet Jaggi resigned amid scrutiny over misused loans and improper acquisition of electric vehicles.

TIVOLT Electric Vehicles inks pact with Tata Power Renewable Energy to build charging ecosystem

Livemint

Livemint · 6m ago

TIVOLT Electric Vehicles inks pact with Tata Power Renewable Energy to build charging ecosystem

Murugappa Group's TCI Clean Mobility subsidiary, TIVOLT Electric Vehicles, has partnered with Tata Power Renewable Energy Limited (TPREL) to establish a charging ecosystem for its electric commercial vehicles. TPREL will leverage its expertise in setting up EV charging infrastructure to provide charging solutions at TIVOLT dealerships, customer locations, and public spaces. The collaboration will also explore the integration of solar energy systems to power TIVOLT's facilities. TPREL has previously deployed over 200 customised EV charging stations across various cities in India. This partnership aims to accelerate the adoption of commercial EVs and promote sustainability.

Yoshi Mobility has come a long way since gassing up cars on the side of the road

TechCrunch · 1y ago

Yoshi Mobility has come a long way since gassing up cars on the side of the road

Yoshi Mobility, a Nashville-based startup, has expanded its offerings from delivering gas to providing preventative maintenance, virtual vehicle inspections, and electric vehicle (EV) charging services. The company, backed by investors including General Motors Ventures, Bridgestone Americas, and ExxonMobil, aims to be the "Amazon of car care" by offering comprehensive automotive services. Yoshi Mobility has raised $60 million in total funding and plans to scale its business lines, targeting partnerships with fleets and consumers in all 50 states. The EV charging platform is seen as a response to the growing EV market and the need for charging solutions.

NSDC, Rapido ink deal to facilitate skill development for gig workers

Economic Times

Economic Times · 2m ago

NSDC, Rapido ink deal to facilitate skill development for gig workers

The National Skill Development Corporation (NSDC) has partnered with bike taxi aggregator Rapido to enhance skill development for gig workers. The collaboration aims to improve employability by integrating trained individuals into the gig economy, offering part-time and full-time job opportunities. NSDC will develop training curricula focusing on technical, behavioral, and safety skills, providing certification to boost job readiness. This initiative aims to foster inclusive growth and enhance India’s mobility sector and broader economy.

Taskmo Founders Exit As Early Investor Quess Corp Seals Buyout

Inc42 · 1y ago

Taskmo Founders Exit As Early Investor Quess Corp Seals Buyout

Bengaluru-based gig economy platform Taskmo has been acquired by business services provider Quess Corp Limited for an undisclosed amount. Taskmo, founded in 2020, aims to revolutionize the gig economy by connecting businesses with on-demand talent. With artificial intelligence and an algorithm, Taskmo assists gig workers in finding tasks, provides real-time visibility for businesses, and offers training and upskilling courses. Taskmo has achieved significant growth, completing over 2 million tasks with the help of 75,000 gig workers. The acquisition is expected to strengthen Taskmo's market position and accelerate its growth.

Tata Passenger Electric Mobility partners with Shell India to boost EV charging infrastructure in India

IndianStartupNews

IndianStartupNews · 1y ago

Tata Passenger Electric Mobility partners with Shell India to boost EV charging infrastructure in India

Tata Passenger Electric Mobility (TPEM) has teamed up with Shell India Markets to establish public electric vehicle (EV) charging stations across India. The partnership aims to enhance the EV charging experience and encourage more people to adopt EVs in the country. The plan involves leveraging Shell's extensive fuel station network and data from Tata's EVs to roll out charging stations at strategic locations. Both companies are also exploring convenient payment systems and loyalty programs. TPEM is the market leader in EVs in India, commanding a 71% market share in electric passenger vehicles.

Maruti Sets The EV Ball Rolling, Mulls 25K Charging Units Ahead Of Its SUV Roll Out

Inc42 · 9m ago

Maruti Sets The EV Ball Rolling, Mulls 25K Charging Units Ahead Of Its SUV Roll Out

Maruti Suzuki India aims to construct around 25,000 electric vehicle (EV) charging stations in preparation for the launch of its electric SUV. The company is also engaging in discussions with oil marketing firms and energy companies to establish a charging ecosystem, addressing a significant hurdle to the widespread adoption of electric mobility in India. Maruti Suzuki plans to equip its service centers with dedicated bays and two charging points, and has commenced training its service mechanics in Bengaluru.

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