EV Startup: Vidyut, a full-stack EV ecosystem startup, has raised $10 million in a Series A round. The startup aims at facilitating easier EV ownership for small and large businesses by offering solutions such as EV insurance, lifecycle management and EV resale.
The company said it aims to double the headcount by the end of next fiscal as it prepares to build a full-stack EV ecosystem and that it will utilise the fresh capital to scale its offerings to the EV ecosystem.
Ev Insurance: Navigating India s Shift to Green MobilityAligned with the government’s initiatives to promote EV adoption, India is actively working on establishing a comprehensive public charging infrastructure. As EV owners benefit from the growing convenience and availability of charging stations nationwide, this collaborative effort not only accelerates EV adoption but also emphasises the cooperative spirit driving sustainable transportation forward.
Buying insurance covers is crucial for consumers as electric cars tend to be more expensive than conventional fuel-powered ones. As a result, the cost of insuring an EV is typically higher compared to conventional fuel-powered ones.
With petrol and diesel prices reaching Rs 100 per litre, more people are opting for EVs to save on vehicle expenses. However, there are other costs to consider, such as higher insurance premiums and the expensive replacement of EV batteries. Additionally, charging time and infrastructure remain significant challenges for EV owners.