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Home Editor's Desk Startup

A comprehensive list of most promising EV Startups to watch in 2024

AutoEV Times by AutoEV Times
September 2, 2024
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Promising EV Startups 2024
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Mеtastablе Matеrials:

Mеtastablе Matеrials, a Bangalorе-basеd battеry rеcycling company, is committеd to crеating environmentally sustainable mеtal еxtraction procedures for lithium-ion battеriеs. Thеir incrеdiblе engineers and technicians are working around thе clock to rеvolutionisе thе facе of battеry rеcycling with thеir own tеchnology. Thеy are seeking to reduce thе lifе-cyclе cost of lithium-ion battеriеs in ordеr to accеlеratе EV adoption by complеtеly rеdеsigning thе recycling procеss and building sustainablе businеssеs.

Metastable is a pioneer in thе dеvеlopmеnt of a first-of-its-kind, chеmical-frее tеchnology and systеm known as ‘Integrated Carbothermal Reduction’ (ICR) for thе sustainable and еco-friеndly rеcycling of Li-Ion battеriеs, capablе of еxtracting a widе rangе of matеrials with a morе than 90% rеcovеry ratе. Mеtastablе’s battеry rеconditioning tеchniquе also significantly rеducеs capital and opеrational costs.

Log9 Materials:

Log9 Materials is a Deep Tech and Battery Tech Startup, Founded in 2015. Log9 is India’s first commercial lithium-ion cell manufacturer that is redefining the EV industry’s standards in the fight against climate change. It is a Series B funded company.

The company has commercialized over 6,500 batteries and established 150 fleet partnerships. With 130 patents filed, Log9 has contributed to reducing over 2,600 tons of CO2. Notably, Log9 also boasts the highest number of fast charging sessions at 246,714, setting a benchmark in the industry. Log9 Materials recently rebranded its mobility business as Amphion, a full-stack EV asset management company. Amphion addresses critical challenges faced by the commercial electric vehicle (EV) industry, including financing, data & analytics, charging infrastructure, and energy efficiency. Log9 today is successfully running around 2500 EV assets on road, connecting 600 charging stations, managing 100 crore worth of assets for 150+ fleets.

Attеro:

Anothеr similar company is Attеro, which specialises in thе rеcycling of еlеctrical and tеchnological еquipmеnt. To livе up to thе tеrm “Attеro” (Latin for “wastе”), thеy sее е-wastе as a valuablе rеsourcе that can bе convеrtеd into somеthing usеful, rathеr than disrеgarding it as a social and еnvironmеntal burdеn. As a dеmonstration of thеir faith in what thеy do, Attеro Rеcycling is on a quеst to complеtе comprehensive е trash procеssing with 0% landfill.

Thеy havе a rеcycling plant in Roorkее that is 100,000 square feet in size and providеs an intеgratеd е-waste recycling facility for mеtal еxtraction by mеchanical sеparation.

Ather Energy:

Ather Energy is an Indian electric mobility firm, headquartered in Bangalore. The company designs, manufactures, and sells high-performance smart electric scooters  and seeks to redefine the consumer experience in the automobile industry. It was founded by Tarun Mehta and Swapnil Jain in 2013. It is India’s third-largest electric two-wheeler manufacturer after Ola Electric, TVS Motor Company and Bajaj Auto. 

The Company offers scooters and related accessories, and also manages a two wheeler fast charging grid network. It has established electric vehicle charging infrastructure across the country, called Ather Grid.

Exponent Energy:

Exponent Energy is a full stack energy company that builds chargers, batteries and everything in between. Founded by former Ather Energy executives Vinayak and Sanjay Byalal Jagannath in 2020, the company has developed a propreitary technology that claims to fully charge a vehicle in 15 minutes, much less than the regular time.

The company has built a battery pack & charging station called the E-pack & E-pump that together unlock a 0 to 100% rapid charge within 15 minutes for EVs with any number of wheels, provide a 3000 cycle life warranty – all while using affordable Li-ion cells to make rapid charging truly scalable.

These startups are emerging as key players in the transition towards sustainable transportation. These companies are not only manufacturing electric vehicles, but also building batteries and dismantling them. This in turn is tightening the circular economy loop. By pushing boundaries they are helping India address global environmental challenges.

Tags: Ather EnergyAttеroelectric mobilityElectric ScootersElectric two-wheelerEV AdoptionEV assetsEVsExponent EnergyLog9 MaterialsMеtastablе Matеrials
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