Power Global Signs Agreement with Rap Eco Motors to Launch Mass Electric Auto-Rickshaw Line Powered by Swappable Battery Technology

PASADENA, Calif., GREATER NOIDA, UTTAR PRADESH and HYDERABAD, India, Nov. 18, 2021 /PRNewswire/ -- Power Global, a leading provider of high-performance clean energy and mobility products for everyday applications, today announced a strategic partnership to supply its eZee swappable lithium-ion battery technology to auto-rickshaw manufacturer Rap Eco Motors for its mass-market electric three-wheeler product line RANIE, which includes L3 and L5 models of a passenger auto-rickshaw, delivery van and cargo vehicle. Following an initial product launch in April 2022, the companies will partner to manufacture 50,000 electric auto-rickshaws over the next five years, advancing both companies' roadmaps for "made in India" manufacturing.

The third-largest emitter globally, India has a strong dependence upon 2- and 4-stroke three-wheel vehicles powered by fossil fuels, which serve as essential last mile transport yet contribute to the country's air quality crisis. Simultaneously, with fuel prices surging as much as 20 percent in the last six months, and the cumulative costs of internal combustion engine-vehicle maintenance, drivers are increasingly turning to cost-effective electric auto-rickshaws as the modern and reliable vehicles of choice. In an infrastructure-light country like India, automotive OEMs are embracing solutions such as battery swapping to further reduce the upfront cost of EVs to increase access and accelerate the nation's clean energy transition.

Rap Eco Motors delivers premier e-rickshaws nationwide and abroad to countries in Asia, Africa, Europe and South America. The partnership with Power Global marks the Hyderabad-based company's first step toward developing a comprehensive 360 solution for the OEM's electric auto-rickshaws, RANIE, which is built upon Power Global's 48-volt swappable eZee battery module. In an ever-evolving auto-rickshaw market like India, Power Global's engineered solution allows Rap Eco Motors to leapfrog the costly and time-consuming process of developing an in-house electrification solution. Compared to existing fossil fuel-powered auto-rickshaws on the road today, each RANIE vehicle is expected to cut CO2e emissions by 3.7 metric tons annually and eliminate dangerous NOx and PM tailpipe emissions that contribute to air pollution.

"In the world's largest three-wheeler market, we feel a collective responsibility to commercialize a sustainable and clean solution," said Mr. Pramod Chabria, a co-founder at Rap Eco Motors. "Our complementary footprints across Northern India and Southern India prime us for critical national expansion, which will help spur the country's adoption of more economical, less pollutive transportation for thousands of drivers."

Power Global's domestic battery production plant in Greater Noida is slated to be the country's largest leading in-country manufacturer of lithium-ion batteries, capable of producing 400,000 modules annually. Supporting India's FAME II mandates, which are driving OEMs to develop electrification solutions, Power Global aims to deploy 10,000 batteries and light mobility electric retrofit kits supported by their battery swapping network by the end of 2022.

As Power Global continues to grow its presence in India, the company is joined by Rakesh Kerwell, Director of Business Development, who played an integral role in this partnership. A former Director at DLF Limited and former Vice President of Corporate Affairs at Reliance Industries Limited, Kerwell is joined by two additional strategic hires whose deep automotive backgrounds at Honda and Hero MotoCorp, respectively, will be crucial to Power Global India's next level of growth: Ajay Dhiman, Head of Manufacturing, and Rajeev Sharma, Chief Engineer.

"For India to successfully capture a bigger market share of the light e-mobility sector, we need to onshore all components of electric auto-rickshaw manufacturing in-country. Rap Eco Motors has already dominated the regional market through its ambitious business strategy and shares our mutual vision for 'made in India' electrification solutions," said Pankaj Dubey, CEO of Power Global's India subsidiary. "We feel privileged to help chart their course toward national growth, and we believe our companies' close collaboration will deliver a cleaner, more cost-effective electrified solution for auto-rickshaw drivers everywhere and strengthen our local economies. As we like to say, 'Made in India, for India.'"

About Power Global
Power Global delivers affordable electrification solutions for mobility, stationary storage and consumer product sectors. Founded in 2019 by industry leaders in advanced battery development, Power Global is improving global access to modern clean energy technologies across emerging markets in the U.S., Asia and other regions that are disproportionately affected by climate change through its low-cost and high-performance light mobility, battery swapping and energy storage solutions. Power Global is a 1% for the Planet alliance member and a Public Benefit Corporation. For more information, please visit www.power.global.

About Rap Eco Motors
Rap Eco Motors is a subsidiary of Ard Group, a leading manufacturer and global exporter of quality auto-rickshaw vehicles with production facilities in Hyderabad, India. Applying over 25 years of manufacturing expertise, Rap Eco Motors was founded in 2013 by its founder Mr. Ashok Chabria to deliver world-class electric three-wheeler transportation solutions that support India's transition to a cleaner, greener future. For more information, please visit https://rapmotorsindia.business.site.

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