EVage raises $28M to be a driving force in India's commercial EV revolution

The truck is developed on EVage’s industry-ready EV platform that the company says allows it to build multiple different types of high quality vehicle at a far lower cost than other OEMs. The startup plans to manufacture vehicles in “Modular Micro Manufacturing” factories, similar to Arrival’s microfactories, which should have smaller carbon footprints and require less capital to produce vehicles than traditional OEMs.The upshot: EVage aims to pass those savings onto customers.Finding a way to make production cheaper is vital for scaling, and the opportunity and demand for scaling EVs in India is massive.India’s Transport Minister Nitin Gadkari, whom Olaf Sakkers, general partner at RedBlue Capital and future EVage board member, says has had a high-level hand in the announcement of EVage’s deal with Amazon, has set a target for the country to have 30% private cars, 40% buses, 80% two and three-wheelers and 70% commercial vehicles electric by 2030.A series of incentives like the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles schemes (FAME-I and FAME-II) help by providing subsidies to electric two-wheelers and commercial or transit-related four-wheelers.