Press Release     Toshiba India and EVage sign strategic agreement to super charge India’s electric commercial vehicles

Toshiba India and EVage sign strategic agreement to super charge India’s electric commercial vehicles

• Toshiba India will supply its SCiB™ rechargeable lithium-ion cells to power the next 10,000 EVage delivery vans
• EVage is the first in the world to use Toshiba’s SCiB™ technology for delivery vans
• Incorporating Toshiba’s SCiB™ rechargeable lithium-ion cells, EVage’s battery pack technologies exhibit ultra-stable and rapid charging capabilities with 100%* charge within 20 minutes, ultra-stable at 65°C
• EVage is a key supplier for zero-emissions electric vans to global companies like Amazon and India's largest and fastest-growing logistics company, Delhivery, among others

Gurugram October 11, 2022: Toshiba India Private Limited (“Toshiba India”) today announced signing of an agreement with EVage Automotive Private Limited (“EVage”) to supply its SCiB™ rechargeable lithium-ion cells to power the next 10,000 EVage electric commercial vehicles. This partnership follows two years of development and joint validation to incorporate these cells into EVage’s proprietary ultra-stable and rapid charging battery packs.

The agreement guarantees availability of enough cells in 2023 and to meet EVage’s aggressive production ramp-up and fulfilment of the thousands of existing reservations for its delivery vans in India. The partnership with Toshiba India also ensures EVage will meet its cost and margin targets.

This is the first deployment of lithium titanium oxide (LTO) cells into commercial delivery vans, assisting EVage vehicles to achieve breakthroughs in battery safety, reliability and performance, a major benefit for its delivery fleet customers.

The proprietary commercial automotive battery pack comes with the following capabilities:

• Toshiba’s SCiB™ cells have proven to have high functionality across charge and temperature ranges, while maintaining high levels of safety. With these technologies, EVage’s battery pack is safe for full operation to 65°C and is extremely tolerant to impacts with low risk of thermal runaway.
• Unparalleled reliability: EVage’s commercial vehicles to recharge fully in 20 minutes. Its pack, incorporating Toshiba’s SCiB™ rechargeable lithium-ion cells, is able to handle such rapid charging over 20,000** cycles and remain performant and in-operation.

Speaking on this occasion, Mr. Shuichi Ito, Managing Director, Toshiba India said, “Our pledge of ‘Committed to People, Committed to the Future.’ represents sustainable development and growth at the core of our business operations. We would like to contribute to realize Carbon Neutral society in India and highly appreciate EVage’s ability to materialize the performance of Toshiba’s product with its unique features of safety, long life and rapid charge. I am extremely delighted to sign this agreement with EVage that will help EVage to introduce the next-generation electric commercial vehicles and address the issue of air pollution from tail-pipe emissions. Toshiba India will provide advanced solutions by utilizing the unique characteristics of SCiB™ rechargeable lithium-ion cells to help create a Carbon Neutral India.”

Mr. Inderveer Singh, Founder & CEO, EVage said, “EVage is a key supplier for zero-emissions electric vans to global companies like Amazon and India's largest and fastest-growing logistics company, Delhivery, among others. Our electric commercial vehicles are a game changer for their logistics fleets. Since 2014 we’ve been developing a flexible automotive platform that can deliver zero emissions and high uptime to take our customers to new levels of operating efficiency. Our goal has always been for electrification to be a zero-hassle transition - including making recharging as fast as fuelling today. It’s taken years of development to get the EVage battery pack to the point it is today, during which time we’ve tested many cell technologies. It’s exciting to announce with Toshiba India today that EVage is bringing LTO chemistry cells to commercial trucks for the first time with Toshiba SCiB™ line. Their performance enables our customers to achieve the best economics in their fleets, and Toshiba’s scale allows EVage to hit our key cost and margin targets.”

Notes to the editor:
*Performance depends on usage conditions
**Measured with a particular single cell under specific conditions.

ABOUT TOSHIBA INDIA PRIVATE LIMITED:

Toshiba India Private Limited (Toshiba India) is a wholly owned subsidiary of Toshiba Corporation, Japan. The company has a long history of close to 60 years in India and has been contributing towards India’s sustainable development by providing Energy, Railway Systems, Rechargeable Batteries, Elevators, Water & Wastewater Treatment and Storage Solutions. Long before the government’s ‘Make in India’ initiative, Toshiba India commenced powering India by making and exporting from India. Guided by the basic commitment of the Toshiba Group, “Committed to People, Committed to the Future.” Toshiba India through its technology and Japanese expertise aims at building a sustainable ecosystem to turn on a promise of a new day for India.

ABOUT EVAGE AUTOMOTIVE PRIVATE LIMITED

At EVage we have fused automobile designing with the ingenuity of aerospace engineering to reimagine and transform the mobility industry. This has led us to pioneer breakthrough products like the modular single skateboard for building multiple vehicle types, a lightweight yet tough exoskeleton covered with space-grade composite material, all manufactured in a super-efficient micro factory. We use rapid charging, ultra-stable batteries with advanced chemistry which ensures low downtime, high safety and long life.  EVage currently has over 100 people from both Aeronautics and Automobile backgrounds at our R&D and Robotics centre in Mohali and New Delhi, India.