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Jayant Mundhra

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Dexter Capital Advisors • 1d

BYD’s in a lot of news, while it’s worked out a partnership in India, that 99.99% Indians don’t even know about 🙌🙌 This is about how BYD is set to bring in its fully electric heavy-duty commercial vehicles in the Indian markets. It has worked out a silent deal with a newbie Indian company. Yet, there is zero media coverage! .. What’s that newbie company called Qusev (expands to Quest for Clean Energy Vehicles). But, what matters is two things. 1> Who’s behind this company 2> What’s its deal with BYD So, let’s dive deeper, right away. .. Qucev was founded by former CaratLane founder Mithun Sacheti, ace investor Madhu Kela, and NK Raval. It has also raised money from the private equity firm Sacheti and Kela run (Singularity AMC). But, what’s more important (in my eyes) is this other name - NK Raval. - Raval is the former MD of Olectra Greentech, which is one of India’s biggest electric bus makers and is primarily all about Hyderabad-based Megha Group sourcing tech from BYD and manufacturing its buses in India - Raval is the one who made that BYD link work with Megha, and he has now worked out a deal between BYD and Qucev, wherein BYD shall supply completely knocked-down kits and batteries to Qucev Thus, it’s more than clear - The business is all about Raval and his experience bringing BYD’s tech and tools to India and making that work. He has done it before, and delivered, and he is here to do it again. .. Somehow, all of this has received no media coverage. Thus, even when I learned about this back in December from one of Sacheti’s interviews, I thought it may be some small deal. - But, days ago, when Singularity AMC announced its new Rs 1.8k crore fund and openly talked about having invested in Qucev, I thought it would spark more of media coverage on what this is all about. But, I guess the media will take its own due course of time on this - Anyhow, I’m pretty excited about this one. Been always in favour of having the best of players and tech come to India, so that Indian biggies like Tatas, Mahindras, Ashok Leyland etc are pushed to compete, invest and innovate My only sour point? That there is hardly any manufacturing being talked about here. But, probably that’ll come once Qucev launches the BYD vehicles in the market and sees enough demand shaping up. By that time, the Govt’s comfort and support for Chinese vehicles in India will also become clearer. After all, manufacturing electric heavy commercial vehicles is bound to demand a lot of money. What do you think?

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