Christened the Gigafactory for its potential impact Tesla’s global footprint as well as the more obvious GigaWatt unit of power (from batteries), Gigafactory 3 is the first Tesla facility outside of the US.
Log9 Materials, the startup with digs close to the Indian Institute of Science, Bangalore, is, in fact, poised to enter the multibillion-dollar energy sector that’s on the cusp of a change towards cleaner sources of power.
At Stellaris, Alok Goyal looks at investing in electric vehicles, besides looking at logistics and software as a service companies. We caught up with him last week to understand why he’s bullish about investing into the EV space when most other VCs won’t do so.
For Indian component makers, being one of the suppliers to Tesla opens up doors for new business in the fast-growing electric vehicles market expected to more than triple to $350.9 billion by 2023.
The pivot towards electric vehicles in India is expected to be sharper in the months and years ahead as prices of lithium-ion (Li-Ion) batteries plummet, while its efficiency and longevity increases.
India is clearly lagging behind when it comes to basic infrastructure for getting its stated target of six to seven million EVs on Indian roads by 2020.
