Shubhson Automotive Accelerates Electric Mobility with Million-Dollar Startup Acquisition

Mumbai, 23rd August 2023: Shubhson Automotive, a pioneering force in the automotive industry based in Pune, proudly announces its recent acquisition of Yogtech Industries (Fe), an energy startup recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). The strategic deal, combining equity and cash, with a value of 1 million USD, firmly underscores Shubhson Automotive’s commitment to leading the charge in the electric mobility revolution.

Having established a significant presence through its EV Charging Aggregator Platform, widely known as ‘Swiftcharge,’ Shubhson Automotive is at the forefront of transforming electric vehicle experiences. In close partnership with dealers and collaborators, the company embarks on an ambitious mission to deploy domestically manufactured chargers along highways, thereby laying the foundation for a comprehensive and accessible EV charging network. Looking forward, Shubhson Automotive is gearing up to unveil its highly anticipated flagship electric two-wheeler by the end of 2023.

The resolute commitment to expanding markets and fostering innovation propels Shubhson Automotive’s strategic acquisition of Fe, ushering in a new era in the electric vehicle landscape. Fe, a trailblazer in battery technology and innovative aluminium-based electric two-wheeler components, seamlessly aligns with Shubhson’s visionary outlook.

Mukul Potdar, Co-Founder of Shubhson Automotive, shed light on the company’s trajectory, stating, “Our unwavering focus on indigenous technology development for cost-effective EV chargers has paved the way for us to concentrate on the upcoming launch of our flagship vehicle later this year. The Fe acquisition further streamlines our manufacturing process, enabling the seamless integration of highly efficient chemistry into our vehicle battery systems.”

Chinmay Gore, Founder of Fe, expressed pride in the startup’s sustainability journey, saying, “Over the past 2 to 3 years, Fe has been dedicated to pioneering technologies in line with our Net Zero goals and carbon reduction aspirations. This acquisition propels us towards our vision of becoming a respected cleantech industry brand.”

As a testament to its unwavering commitment to innovation, Shubhson Automotive commemorates 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: Founded in 2020, Shubhson Automotive is an automotive startup based in Pune, under the umbrella of its parent company Rovers Energy Private Limited. Co-founded by Mukul Potdar, Tejas Inamdar, Pranav Petkar, Akshay K, and others, the company is leading transformative changes in India’s automotive landscape.

Shubhson Automotive’s strategic partnership with Delaware-based automaker startup Exzo, combined with its facilities across Pune and other states, positions it as a rising star in the electric mobility revolution.

For more information about Shubhson Automotive and its pioneering contributions, please visit Shubhson.com.