StartupTalky

Tag: JSW MG Motor

  • JSW MG Motor India Supports 7 Startups with an AI Emphasis in Electric Vehicles

    AI and electric vehicle concept is getting really popular around the globe. As the people are getting more aware about sustainability and its long term value, they are opting for more solutions and products that are friendly to the environment. Stretching on the same line and within the framework of the MG Developer Program (MGDP) Season 5.0, JSW MG Motor India unveiled the acceleration of seven companies with an emphasis on artificial intelligence (AI) in electric mobility on 11 September 2024. 

    With ecosystem partners on board, the MGDP initiative fosters innovation in the rapidly developing field of artificial intelligence in electric mobility.

    Seven Startups

    Startups

    Deliverables

    Anuvega Powertronics

    A supplier of drivetrain and power electronics products

    Aselector Technologies

    A platform powered by AI for process and customer experience
    improvement

    Emerging Technologies

    Focusing on improving efficiency and safety in the automotive sector

    Gudlyf Mobility

    A deep tech business that focuses on energy storage

    Power Jet

    EV Urjaa

    Ravity

    A mobility management platform integrated with AI

    Vocbot AI

    An AI-powered, SaaS-based contact centre that is multilingual

    Investigating AI’s Potential for Transformation

    The MGDP Season 5.0 subject, AI in Electric Mobility, invites digital startups to investigate how AI may revolutionise everyday life and corporate processes. The seven businesses will create ongoing research and pilot programmes in the upcoming months, opening the door for innovative and useful solutions that combine artificial intelligence and electric mobility.

    Collaborating with Manthan and Startup India

    In order to strengthen the program’s impact, JSW MG Motor India collaborated with Startup India and Manthan (the Government of India’s Office of the Principal Scientific Adviser), which started in early 2024.

    Important support was given by a consortium that included AWS, Exicom, Lohum, and DRIIV (Delhi Research Implementation and Innovation), which encouraged cooperation and creativity within the startup community.

    The company is unwavering in its dedication to innovation and teamwork in the electric transportation sector. According to Gaurav Gupta, Chief Growth Officer, JSW MG Motor India, “the MG Developer Program and Grant act as catalysts, enabling startups to create AI solutions that tackle the difficulties and possibilities posed by this rapidly evolving mobility landscape.”

    Through the provision of resources, mentorship, and a nurturing atmosphere, the firm is fostering a new generation of innovators who will use artificial intelligence to design India’s future in electric transportation. “We look forward to seeing the growth of these businesses and their beneficial impact on the Indian automotive industry as JSW MG Motor India continues to invest in technological innovation and developing opportunities in the AI field,” Gupta continued.

    Vidyut and JSW MG Motor India Offer a Unique Electric Car Ownership Package
    The battery-as-a-service (BaaS) portfolio of Bengaluru-based full-stack EV ecosystem startup Vidyut (VT) has been extended to the passenger automobile market.
    StartupTalkyNitin Konde

  • Vidyut and JSW MG Motor India Offer a Unique Electric Car Ownership Package

    The battery-as-a-service (BaaS) portfolio of Bengaluru-based full-stack EV ecosystem startup Vidyut (VT) has been extended to the passenger automobile market.

    The firm is offering a Battery-as-a-Service (BaaS) financing option for passenger cars, such as the MG Comet EV, MG Windsor EV, and MG ZS EV, in collaboration with JSW and MG Motor India. While most people view batteries as assets, Vidyut views them as fuel. Given that the car is not in use, why should one pay for it?

    According to Xitij Kothi, co-founder of Vidyut, “This very question inspired us to introduce Battery-as-a-Service (BaaS) into the EV ecosystem.”

    Allowing Clients to Lease the Battery

    Customers can rent the battery under the BaaS scheme for a minimum charge that starts at INR 2.5 per kilometre, depending on usage. By renting batteries, EV owners can drastically cut their operating costs compared to conventional internal combustion engine (ICE) vehicles—up to 40%.

    Vidyut has made great progress in developing this funding mechanism for commercial applications since its founding in 2021. With JSW MG Motor India, the business is now thrilled to bring the same degree of innovation to personal four-wheelers, according to Kothi. The company wants to enable people to embrace sustainable transportation without the financial burden that usually goes along with it by making EV ownership affordable and accessible for all, Kothi revealed further.

    How Does the Baas Model Work?

    The Battery-as-a-Service (BaaS) business model considerably lowers the initial acquisition cost of an electric vehicle (EV) by allowing consumers to pay only for the vehicle (without the battery), in contrast to standard ICE vehicles that have continuous gasoline costs involved. With this model, owning an EV is more convenient and economical while also reducing driving costs. 

    Vidyut will give clients the choice to either continue with the battery rental programme or buy the battery altogether when the vehicle’s finance term (without the battery) has ended, which could be anywhere from three to five years, depending on the model of the vehicle. Furthermore, car owners can pay the battery’s residual value to withdraw from the programme whenever they like.

    In order to increase the accessibility of passenger EVs and accelerate EV adoption in India, JSW MG Motor India values Vidyut’s approach to this innovative and industry-first ownership programme.

    According to Gaurav Gupta, Chief Growth Officer of JSW MG Motor India, the company is thrilled to work with Vidyut as one of its finance partners to launch BaaS, which will help remove the initial investment barrier to electric vehicle ownership while drastically cutting operating costs.

    JSW MG Motor India is optimistic that this model will encourage more prospective EV buyers to upgrade to an EV lifestyle by offering this creative plan. Gupta stated that MG EV buyers can also take advantage of the guaranteed 60% buyback value following three years of ownership, providing a smooth and secure ownership experience.

    Driving India’s EV Growth: Focus on Battery Reuse, Funding, and Skilling
    As EVs dominate the decade, overcoming challenges in battery recycling, infrastructure, funding, and talent upskilling is crucial for India’s sustainable mobility sector to thrive.
    StartupTalkyPrithvi Durai