EVage develops one-tonne (2,000 pound) electric trucks for India’s commercial delivery market and says its industry-ready EV platform lets it build multiple vehicle types at lower cost than traditional OEMs. The company already has five EV trucks on the road and a partnership with Amazon India’s Delivery Service Partner, and an investor said EVage plans to provide “in the thousands” more to Amazon by year-end. EVage plans to manufacture vehicles in “Modular Micro Manufacturing” factories (similar to Arrival’s microfactories) to reduce capital needs and carbon footprint and pass savings to customers. The startup raised a $28 million seed round to complete a production-ready factory outside of Delhi in Q1 2022 and to scale production to meet demand. EVage aims to scale production to address a large domestic opportunity—investors cited a demand segment of roughly half a million commercial vehicles per year in India. Scaling to the hundreds of thousands will be a challenge but is presented as a major growth opportunity.

Total raised

$28M

Funding rounds

1

Latest round

Seed

Latest activity

Jan 2022