Redler Technologies of Israel has signed a long-term strategic cooperation agreement with Virtual Forest (VF) of India who have incorporated Redler Technologies’ patents in the areas of motion control and Micro EV
Both companies will together invest 5.5 million USD in the initial stage
Redler Technologies, specializing in solutions with international patents in the areas of electrical power and motion technologies, has entered into a strategic alliance with Virtual Forest (VF) of India. VF develops technologies for micro electric vehicles (Micro-EV) for two- and three-wheel vehicles for the Indian and Southeast Asian markets. In doing so, Israeli technology will, for the first time, be an integral part of the Micro-EV markets in India and Asia. Redler Technologies will supply innovative motion solutions for the accelerating Micro-EV markets as part of the green electricity revolution taking place in India and her region.
Cooperation between the companies will include integration of new technology solutions including Redler Technologies flagship products, from development to production, integration, and support together with VF, while adjusting to the new and unique demands of two- and three-wheel EV vehicles. Both companies will together invest 5.5 million USD in the initial stage.
2 Weeler
The motion controllers’ market is experiencing steady growth in line with exponential growth of the EV markets in India and Southeast Asia. In 2021, this market saw a turnover of 3.8 million dollars, which is expected to multiply over 30 times to a value of 267 million dollars in 2025.
This forecast is based on, amongst other factors, national plans as announced by the Indian government and Mr. Nitin Gadkari, the Minister of Road Transport and Highways, for two- and three-wheel EVs to become 80% of the EV market by 2030. The two- and three-wheel market is a significant portion of the annual number of new electric vehicles rolled out and is expected to reach annual sales in the billions of dollars worldwide. With 17.4 million new two- and three-wheel sold in 2020, compared to 2.7 million cars (a ratio of 6.5 to 1) and where only 1.6% of all new cars on the roads are green energy [EV’s], the growth potential in this market is very high.
VF operates in a growing market while focusing on new innovations in EV in India and the region, addressing two main issues: their geographical area is responsible for one third of the world’s carbon emissions due to the overwhelming reliance on two- and three-wheel vehicles operating on petroleum. And secondly, the high cost of petroleum in relation to the average income as a result of India’s dependence on imported fuel.
Guy Natanson, CEO of Redler Technologies, says “We are excited to be part of the burgeoning revolution in this particularly important market of EV two- and three-wheel vehicles. The choice to partner with VF was ideal for both companies since the synergies between our technologies will enable us to build a better future, advance green technology and zero vehicle carbon emissions which is at the forefront of economic and political agendas in this region and around the world.”
Omer Basith, Co-Founder and Partner in VF, adds “We see the importance in our strategic cooperation with Redler Technologies. Together we provide an important message of localizing technology that enables us to take the EV industry in India and the region toward a better future.”
