Hygge Energy, THINK Gas in Electric Mobility Solution Pact
- By MT Bureau
- April 28, 2022
Hygge Energy, which offers cleantech solutions to the marketplace, has signed an MoU with THINK Gas, an operator of CNG Stations in India, to set up Hygge’s ‘Zero Emission Electric Mobility’ solution at the latter’s CNG stations.
The company said in a release that Hygge’s software solution, which maximises the usage of renewable energy for the purpose of EV charging, will be installed at THINK Gas’s CNG station in Baghpat, Uttar Pradesh, followed by other locations.
The solution comes with the Hygge EV mobile app that enables planning and management of EV charging stations, as well as tracking of payments and carbon credits, the release pointed out.
Prateek Saxena, CEO, Hygge Energy, said, “Hygge is developing a robust carbon trading system for renewables-based EV charging for India. If all EVs in the country are charged using renewable energy, it will open up INR 75,000 Crore export opportunity in the carbon market only through EV charging. Add CNG to this carbon trading system, and we are looking at increasing the potential market size to 1NR 1 lakh crore.”
THINK Gas, in its two years of operation, expanded its network to more than 80 CNG stations across Punjab, Madhya Pradesh, Uttar Pradesh, and Bihar. THINK Gas has been serving over 30,000 customers daily and has touched a peak of 200,000 Standard Cubic Meters per Day, the release said.
Sandeep Trehan, Founder and President (Marketing), THINK Gas, said, “Our CNG station, equipped with clean energy activities, and fitted with EV charger and Hygge’s software platform, will create a new, cleaner experience. This will further strengthen the process of building a strong clean energy ecosystem.”
Hygge said its technology enables tracking, measurement, optimisation, allocation and accounting of renewable energy for EV charging. The plug-and-play solution integrates with any EV charger and instantaneously connects the charging station to its AI software that helps drive traffic and improve the operational efficiency of the EV charging stations, it claimed. (MT)
Ather Energy Launches Rizta E-Scooter In Nepal
- By MT Bureau
- August 07, 2025
Bengaluru-based electric two-wheeler maker Ather Energy has expanded its product line-up in Nepal with the introduction with the Ather Rizta e-scooter.
It was in November 2023 that Ather marked its entry in Nepal with the Ather 450 series and most recently introduced the 2025 Ather 450 in the region. Since then, it has established 9 Experience Centres and 6 Service Centres in the region along with 22 Ather Grid fast chargers.
Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, "Nepal was our first international market, and over the last two years, we have seen strong consumer interest and a very encouraging response to the Ather 450 series. To meet the growing demand, we have also steadily expanded our footprint across the country. With the launch of the Rizta, we are tapping into a new segment of family buyers who prioritise comfort and convenience in their everyday rides. We are hoping to see the same strong response for the Rizta as we’ve seen for the 450 series."
Polestar 4 Wins Red Dot Best Of The Best Award
- By MT Bureau
- August 06, 2025
Swedish electric performance car brand Polestar has earned further acclaim for its innovative design philosophy. The Polestar 4 has secured the coveted Red Dot ‘Best of the Best’ award for 2025 in the Product Design category, celebrating its meticulous craftsmanship and bold design language. Both the Polestar 3 and Polestar 4 also received the Red Dot Label in the same category.
As one of the world's most prestigious design competitions, Red Dot acknowledged the Polestar 4's standout feature – its unconventional rear-windowless design – while praising its seamless fusion of coupe-like dynamism and SUV functionality. Additional design highlights include sleek frameless mirrors, distinctive dual-blade headlights and celestial-inspired ambient lighting, all contributing to its award-winning aesthetic. The ‘Best of the Best’ honour represents the highest Red Dot recognition, awarded only to groundbreaking designs that redefine industry benchmarks. An international jury of design experts rigorously assesses each entry through hands-on evaluation across multiple criteria.
This latest achievement builds on Polestar's strong Red Dot legacy, which includes prior "Best of the Best" wins for the Polestar 2, Brand of the Year distinction, and recognition for brand identity and design literature. These accolades reinforce Polestar's position as a leader in automotive design innovation.
“The Polestar 4 impressively succeeds in harmonising the technical complexity of such an advanced vehicle with design qualities such as simplicity and clarity,” remarked the jury.
Philipp Römers, Global Head of Design, Polestar, said, “This recognition is a testament to the dedication and passion of the Design Team here at Polestar. We are thrilled to see the work and commitment to distinctive design resonate with the jury.”
Exicom Raises INR 2.59 Billion Via Rights Issue
- By MT Bureau
- August 05, 2025
Exicom Tele-Systems Limited, a leading Indian manufacturer of EV charging and critical power solutions, has successfully raised around INR 2.59 billion through its recently concluded Rights Issue. The offering, which saw strong oversubscription, highlights sustained investor confidence and robust promoter support.
The Rights Issue, open from 15 to 30 July 2025, allotted 1,814,000 fully paid-up equity shares at INR 143 per share in a 3:20 ratio for eligible shareholders as of the record date 7 July 2025. Promoters demonstrated their commitment by subscribing to approximately INR 1.20 billion, reinforcing their belief in Exicom’s future growth.
Proceeds will primarily strengthen the company’s financial position by reducing debt, with a target debt-to-equity ratio of 1:4 by FY26. The funds will also support global expansion efforts, including enhancing market presence in the US, Europe and Australia through Tritium, alongside covering general corporate expenses. This successful capital raise positions Exicom to accelerate its EV charging and energy solutions business while driving long-term value for stakeholders.
Anant Nahata, Managing Director and CEO, Exicom, said, “We are grateful to our shareholders for their continued trust in Exicom. The capital raised will strengthen our balance sheet and support our expansion, particularly in international markets through Tritium. While Tritium’s turnaround is taking time, we are in advanced discussions for several large global high-power charger deals that we believe can help change the course of the company. We will see this fully play out starting FY27. Back home, we remain strongly optimistic about the India opportunity, driven by the steady growth in EV adoption across the country. Our Harmony Direct 2.0 continues to gain traction, with early momentum translating into a strong sales pipeline. Meanwhile, Spin Air home chargers are securing consistent wins with leading OEMs, reinforcing trust in our technology and execution."
Shiraz Khanna, Chief Financial Officer, Exicom, said, "This Rights Issue marks an important step in enhancing our financial health. The capital raised will enable us to significantly reduce debt and support sustainable growth while maintaining prudent capital discipline."
Ultraviolette Launches 5 New Experience Centres
- By MT Bureau
- July 31, 2025
Bengaluru-based electric motorcycle maker Ultraviolette Automotive has expanded its presence across India with the launch of new experience centres in five cities – Madurai, Kolkata, Berhampore, Jaipur and Yelahanka (Bengaluru) – within a span of 72 hours. The company has also opened its second experience centre in Bengaluru, taking its total presence to 17 cities nationwide.
The rapid rollout is aimed at meeting growing demand for its F77 series, including the F77 SuperStreet and F77 MACH 2 models. These new ‘UV Space Stations’ will offer customers test rides, vehicle delivery, aftersales support and access to genuine spare parts.
Narayan Subramaniam, CEO and Co-Founder, Ultraviolette Automotive, said, Ultraviolette’s active expansion is not just about scaling but also about strategy and impact. With the opening of five new experience centres in a short span of 72 hours and launch of a second experience centre in Bengaluru today, we are delivering on our commitment to architect a scalable customer ecosystem with robust sales and aftersales facilities. Our launch in ten countries across Europe in June 2025 and the second phase of India expansion underscores the agility of our operational model, and our vision of serving our customers across hundred cities by FY 2026. Designing and building in India isn’t just a philosophy, it’s about laying the foundation for long-term value creation, and prioritizing service excellence ahead of new product rollouts. We are ushering in the next wave of design-led and advanced tech mobility.”
The company’s experience centres provide tailored sales and service support, creating an end-to-end customer experience. The expansion marks Ultraviolette’s entry into Rajasthan and West Bengal.
Ultraviolette also continues to upgrade its technology offerings. Its latest ‘GEN3 Powertrain Firmware’ and ‘Ballistic+’ performance mode are now available at no extra cost for all F77 owners, new and existing. These updates improve throttle response, acceleration, and initial torque. Earlier updates in 2024 included features such as Traction Control, Dynamic Stability Control, Hill-Hold Assist, and regenerative braking.
The company aims to further scale its reach to 100 cities across India by FY 2026.
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