Technology is rapidly transforming the automotive industry and is set to continue its dominance in the coming years of 2023-2024. In recent years, it has undergone a seismic shift, and this transformation is only going to accelerate in the years ahead. Advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IOT) are now at the forefront of the industry, paving the way for a new era of driving.
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Cygni Energy Private Limited selected as a Winner of ‘Business Leadership: Manufacturing’’ at the EV STATE SUMMIT AWARD Cygni Energy Private Limited has been recognized by global research firm, Tracxn for being a leading Startup of Energy Storage Tech, an award series that recognizes the topmost companies in this space across the globe.
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What are the current market trends influencing the need for battery manufacturing in India?
There are two opportunities in battery manufacturing: one is for electric vehicles (EVs), and the other is for energy storage systems (ESS). Each of them stands alone as a significant portion. The Central FAME-II policy, which provides incentives to the producers of electric vehicles, is the primary demand-side driver for EVs.
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India’s electric vehicle revolution is here. Our CEO Venkat Rajaraman explores six trends that are likely to shape the sector’s ongoing growth in the country.
India’s transportation sector is very unique. Unlike most Western countries, Indian drivers predominantly ride on two-wheeled and three-wheeled vehicles like motorcycles, mopeds and auto rickshaws. With over 80% of the vehicles on Indian roads consisting of two-wheelers and three-wheelers
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Cygni will use the funds to fuel product development, business growth, grow the engineering division to fast-track the product development cycle and set up a new greenfield manufacturing facility in the state of Telangana.
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India is in the midst of transition to electric vehicles (EVs). Several think-tanks including NITI Aayog and CEEW have predicted that there would be 80 per cent EV adoption in two wheelers and three wheelers by 2030. Even a conservative estimate predicts that there would be 6 million EVs in India by 2025.
Entrepreneur India Article: Switch To Lithium-ion Battery
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