Pune’s Shubhson Automotive Accelerates Electric Mobility with Million-Dollar Startup Acquisition
Pune, 19th August 2023: Shubhson Automotive, a pioneering presence in the automotive industry headquartered in Pune, proudly announces the acquisition of Yogtech Industries (Fe), a DPIIT-recognized energy startup. The strategic equity plus cash deal, valued at 1 Million USD, firmly reinforces Shubhson Automotive’s dedication to spearheading the electric mobility revolution.
With a growing impact through its EV Charging Aggregator Platform, renowned as ‘Swiftcharge,’ Shubhson Automotive is driving transformation in electric vehicle experiences. Collaborating closely with dealers and partners, the company embarks on an ambitious journey to deploy domestically manufactured chargers along highways, cementing the groundwork for a widely accessible EV charging network. Looking ahead, Shubhson Automotive is poised to unveil its highly anticipated flagship electric two-wheeler by the close of 2023.
An unwavering commitment to market expansion and innovation drives Shubhson Automotive’s strategic acquisition of Fe, heralding a new era in the electric vehicle landscape. Fe, a trailblazer in battery technology and aluminium-based electric two-wheeler component designs, perfectly aligns with Shubhson’s forward-thinking vision.
Mukul Potdar, Co-Founder of Shubhson Automotive, shared insights into the company’s trajectory, stating, “Our steadfast focus on indigenous technology development for cost-effective EV chargers paved the way for us to concentrate on the impending launch of our flagship vehicle later this year. The Fe acquisition further refines our manufacturing process, enabling seamless integration of highly efficient chemistry into our vehicle battery systems.”
Fe Founder, Chinmay Gore, expressed pride in the startup’s sustainability journey, stating, “Over the past 2 to 3 years, Fe has relentlessly pioneered technologies in line with our Net Zero aspirations and carbon reduction goals. This acquisition propels us towards our ambition of emerging as a respected cleantech industry brand.”
As a testimony to its unwavering commitment to innovation, Shubhson Automotive celebrated Independence Day by inaugurating the groundbreaking ceremony for its EV Charger, Lithium Battery, and Battery Swapping Machine Design and Manufacturing Unit along the Pune – Bengaluru National Highway.
About Shubhson Automotive:
Established in 2020, Shubhson Automotive is a Pune-based automotive startup owned by its parent company Rovers Energy Private Limited. Co-founded by Mukul Potdar, Tejas Inamdar, Pranav Petkar, Akshay K, and others, the company is at the forefront of transformative changes in India’s automotive landscape. Shubhson Automotive’s strategic partnership with Delaware-based automaker startup Exzo, coupled with its facilities across Pune and other states, positions it as an emerging firm in the electric mobility revolution.
For more information about Shubhson Automotive and its trailblazing contributions, visit https://shubhson.com
