Shubhson Automotive acquires Fe to uplift its technological prowess in e-scooter manufacturing

A well-acknowledged player in the automotive industry, Shubhson Automotive, situated in Pune, has declared acquiring Yogtech Industries (Fe), a DPIIT-recognized energy start-up. Fe is an expert in creating bespoke aluminium-based electric two-wheeler components and boasts of designing state-of-the-art battery technology.

The strategic equity plus cash collaboration is worth US$1 million, and it strongly promotes Shubhson Automotive as a leading figure in the electric mobility industry. The company's EV Charging Aggregator Platform, also known as 'Swiftcharge', is opening new boundaries in the electric vehicle sector.

Shubhson has partnered with dealers and other associates to propagate the installation of its indigenously made chargers along the highways so that a wide EV charging network is formed. Shubhson Automotive is also preparing to launch its much-awaited electric two-wheeler by the dawn of 2023.

Shubhson Automotive's acquisition of Fe alludes to the company's indomitable spree for high-end innovation and technology. This will also help in building a profound marketing strategy for the newly designed electric scooters by Shubhson Automotive, as Fe and its expertise will be extremely advantageous for the making of these futuristic e-scooters.

Fe is an expert in manufacturing precise aluminium components for the automobile sector; thus, the new project at Shubhson Automotive won't be a first of its kind for the company. Moreover, with Fe's flagship battery designs, there is no need to outsource the technology which is pivotal in assembling an Electric Vehicle (EV).

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The Co-Founder of Shubhson Automotive, Mukul Potdar, seemed quite optimistic about the company's growth when he said: "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."

Shubhson Automotive marked Independence Day by launching the inaugural ceremony for its EV Charger, Lithium Battery, and Battery Swapping Machine Design and Manufacturing Unit along the Pune – Bengaluru National Highway. This is a testament to the company's unwavering commitment to innovation and its role in driving transformative changes in India's automotive landscape.

The Founder of Fe, Chinmay Gore, overwhelmed with the start-up's new-reached success, commented: "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."

Shubhson Automotive is a Pune-based automotive start-up that was established in 2020 and is owned by its parent company, Rovers Energy Private Limited. The company was co-founded by Mukul Potdar, Tejas Inamdar, Pranav Petkar, Akshay K, and others. With facilities across Pune and other states, Shubhson Automotive is an emerging firm in the electric mobility revolution, thanks to its strategic partnership with Delaware-based automaker start-up Exzo.