Investor Relations

Company Profile

As commercial fleets pledge to move towards zero tail-pipe emissions, the automotive industry needs to reimagine how it designs and manufactures vehicles. EVage is an all-electric commercial vehicle manufacturer based in Mohali (Punjab).
Our products are built on a native and proprietary modular EV platform. We are currently focused on emerging markets as there is a clear need for reliable, safe, economical and sustainable EV solutions, and we aim to address this gap.
Most people would be surprised to know that only 2 to 3% of vehicles in India contribute to over 35 – 40% of vehicular pollution across CO2, SOX, NOX and PM. This 2 – 3 % comprises mostly commercial vehicles that run on average 20 hours a day, are not maintained as well as the passenger vehicles, and cause serious environmental pollution. While today’s hype surrounds passenger EVs, we truly believe that addressing the commercial EV segment is core to India’s net-zero targets.
We are led by a dynamic and experienced management team that is committed to creating a sustainable future through the adoption of electric mobility solutions.

Inderveer Singh

Founder, CEO

Made a go-kart at age 16 & by 18 converted his father’s old Maruti 800…

Pulkit Srivastava

Co-founder, Growth

A serial entrepreneur with his previous venture being “Shouut” one of…

Harnoor Kaur

Co-founder, Digital Manufacturing

Engineering in CS , MBA in Marketing & Retail. Worked with Indian Space…

Dinesh Shyamsundar

CTO

Technology and industrial automation leader. Demonstrated capabilities to…

Sandeep Sharma

Head, Design

MS in ME – Michigan Tech University. Previously Worked with Ford, DRDO…

Mr. Javed Rahi

Head - Material Resource Planning

Specifically in sourcing/procurement and unit marketing…
We are led by a dynamic and experienced management team that is committed to creating a sustainable future through the adoption of electric mobility solutions.

Inderveer Singh

Founder, CEO

Made a go-kart at age 16 & by 18 converted his father’s old Maruti 800…

Pulkit Srivastava

Co-founder, Growth

A serial entrepreneur with his previous venture being “Shouut” one of…

Harnoor Kaur

Co-founder, Digital Manufacturing

Engineering in CS , MBA in Marketing & Retail. Worked with Indian Space…

Dinesh Shyamsundar

CTO

Technology and industrial automation leader. Demonstrated capabilities to…

Sandeep Sharma

Head, Design

MS in ME –Michigan Tech University. Previously Worked with Ford, DRDO…

Mr. Javed Rahi

Head - Material Resource Planning

Specifically in sourcing/procurement and unit marketing
The advisory board at EVage comprises of industry veterans who bring a wealth of knowledge and experience to guide the company’s strategic directions.

Chris Borroni-Bird

Automotive Hall of Fame 2000

Recently served as W aymo’s Chief Engineer for Future Vehicle…

Dr. Paolo Castagna

Global Auto Expert

Managing Director of Fiat India Automobiles. Head of Treasury for Fiat Group…

Ram Mohan

Auto Design Guru

45 years of Indian auto industry experience with focus on New Product…

Anand Shah

EV expert, CoFounder Ola Electric

Anand Shah has over 25 years of industry experience. He was the SVP & Chief of…
The advisory board at EVage comprises of industry veterans who bring a wealth of knowledge and experience to guide the company’s strategic directions.

Chris Borroni-Bird

Automotive Hall of Fame 2000

Recently served as W aymo’s Chief Engineer for Future Vehicle…

Dr. Paolo Castagna

Global Auto Expert

Managing Director of Fiat India Automobiles. Head of Treasury for Fiat Group…

Ram Mohan

Auto Design Guru

45 years of Indian auto industry experience with focus on New Product…

Anand Shah

EV expert, CoFounder Ola Electric

Anand Shah has over 25 years of industry experience. He was the SVP & Chief of…

Our Vision

To be a globally admired mobility solutions company that is people-positive, planet-positive and profit-positive.

News Releases

Frequently Asked Questions

Everything you need to know about us
How is EVage contributing to sustainability?
EVage was built to provide sustainable mobility solutions for emerging markets. It would surprise many people that only ~ 2-3% of the vehicles in India contribute to ~ 35 - 40% of vehicular pollution across CO2, SOX, NOX & PM. This 2 - 3 % of vehicles we mention are almost entirely commercial. Commercial vehicles in India run ~ 20 hours a day, are not maintained as well as passenger vehicles & cause serious environmental pollution. While all the hype is around passenger vehicles today, we truly believe that solving the commercial EV problem is core to the net zero targets of India.
We have heard a lot about the LTO chemistry you use. Why don't you elaborate further on the same?
EVage has completely reimagined the battery for emerging market use cases. The LTO chemistry enables us to provide a mobility solution that is safe from -20 degree Celsius to 65 degrees Celsius, fast charging the vehicle in about 20 mins. It provides an ultra-long life of a million miles with a warranty of 8 years. These are features which truly differentiate us from other players in the market.
What are the use cases of EVage FR8?
EVage FR8 powered by the LTO battery can safely run ~ 105 km to 110 km on a fully loaded scenario. This makes FR8 suited for both last-mile as well as mid-mile use cases. E-commerce companies, FMCG players and logistics service providers can deploy EVage FR8 for both these use cases per their requirements.
How are you reimagining manufacturing?
While we were building the blueprint to create EVage, we realized the biggest hurdle to producing EVs in a commercially viable way is the existing legacy manufacturing process. We have completely disrupted EV production with our modular micro-manufacturing capability, also called the 'micro-factory'. We have completely redesigned the manufacturing process - removing redundant processes. As a result, a micro-factory can produce EVs at a healthy margin but at a much lesser volume and a significantly lesser environmental footprint.
What about the Investment?
We raised $ 28 Mn in our seed round from Red Blue Capital, a globally renowned mobility investor (https://www.red.blue/), in January 2022.
How does an investor reach out to you?

You can reach out to us at (ir@evage.in).

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Made a go-kart at age 16 & by 18 converted his father’s old Maruti 800 into an electric vehicle with a range of 25 kms. Post university, worked for 8 years at GNA group, a leading auto component manufacturer with a topline of USD 150 million. Setup their R&D team, managed a workforce of 1000+, set up a manufacturing facility in the USA, and oversaw a 10x revenue increase.
A serial entrepreneur with his previous venture being “Shouut” one of India’s largest O2O platform driving sales for retail hubs. Worked at Perfect Relations for 8 years and as Director, lead Business Development across 18 offices in India and served various Fortune 500 clients. Also had a stint as the head of PR at Dish TV (Essel Group) before turning towards his own ventures.
Engineering in CS , MBA in Marketing & Retail. Worked with Indian Space Research Organization – Interfacing of machines helping in remote monitoring of geo systems. Patent engineer at UnitedLex; part of the team that handled Microsoft’s patents and other Fortune 500 Companies.
Technology and industrial automation leader. Demonstrated capabilities to deliver ideas from Lab to Market. Setting up greenfield Technology Labs and establishing & growing Captive Off-shore Development Centers.
MTech –Michigan Tech University. Previously Worked with Ford, DRDO, Airbus and Augusta Westland. Holds 30 Patents of his own. Vast experience in design & stress analysis of aerospace, automotive and general engineering products.
Mr. Javed Rahi is a highly experienced professional with over 25 years of expertise in cross-functional operations, specifically in sourcing/procurement and unit marketing. His impressive career spans multiple sectors, including automobile, power, energy, and electrical. He has held key positions at DCM Toyota/Daewoo Motors India, QH Talbros Ltd, Kirloskar Electric Motors, and Ingersoll Rand India. In recognition of his outstanding performance, Mr. Rahi was honoured with the President’s Award in 2021 while serving at Ingersoll Rand.
Automotive Hall of Fame 2000 Recently served as W aymo’s Chief Engineer for Future Vehicle Programs and has been a Research Scientist at MIT MediaLab. Qualicomm’s VP of Strategic Development,responsible for wireless automotive solutions
Managing Director of Fiat India Automobiles. Head of Treasury for Fiat Group in Germany & Austria
45 years of Indian auto industry experience with focus on New Product Development Heads various Govt Committees; works with the UN on mobility issues
Anand Shah has over 25 years of industry experience. He was the SVP & Chief of Strategic Initiatives at Ola and Co-Founded, Ola Electric. Extensive experience in global strategy and ventures for BMW Group and Audi AG.