US-based battery cell and solar thin filmmaker Triton Solar has acquired a substantial stake in Mumbai based cleantech startup Ushva Clean Technology for an undisclosed amount. As part of this strategic alliance, the two players will develop the fastest everyday electric car in India, leveraging Triton Solar’s battery technology and Ushva’s experienced team from IIT Bombay.
The electric car will be launched globally, in direct competition with global players in the EV space.
“This will be a one-of-a-kind car with the highest travel range in a single charge and unique user experience as well as an acceleration feel. Unlike the history of the Indian automobile industry, this will be the first time that a globally competing new generation car will not only be assembled using procured tech but actually be developed in India. This will be a global shout out for the tech industry especially the Indian and global automotive giants”—read a press statement.
“The backend technology for the EV is very much in place with [Ushva] and we coming together would get the front end also cracking. Look out for the cars on the roads soon,” announced Triton Solar founder and CEO Himanshu B. Patel.
“What impressed us about Ushva is the deep technological developments done by them in the energy space from a clean and sustainable point of view. The development done by them along with the analytics and insights will be solving critical problems in the energy space,” he added.
With this strategic alliance, Ushva can further ensure its ongoing product and services development are fast-tracked while also exploring international markets, especially North America wherein Triton Solar has a significant presence.
Ushva is founded with the vision to offer renewable, affordable, clean energy devices that can influence societies of all categories. The startup has won multiple international awards for its work in the energy. The team at Ushva previously built India’s first electric formula race car which won multiple awards at the Formula Student UK event Silverstone circuit.
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