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PLI Scheme: The Make in India Solution?

Since the 2014’s victorious election for the BJP, PM Narendra Modi (1) has been trying to implement the Make in India strategy. A Strategy that involves a revolutionary change for the public of India to appreciate Indian made products. Mahatma Gandhi’s Ideology was to embrace a movement where we value our products, like Khadi and […]

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Since the 2014’s victorious election for the BJP, PM Narendra Modi (1) has been trying to implement the Make in India strategy. A Strategy that involves a revolutionary change for the public of India to appreciate Indian made products. Mahatma Gandhi’s Ideology was to embrace a movement where we value our products, like Khadi and much more, that symbolizes the Indian quality among the people. The Idea still didn’t survive after industrialization, and the Nehru plan to economize India was a reality. Global imports were much more extensive than Indian exports. This shifted the economic level of the US Dollar and Indian Rupee. Rate of products became costly, and survival too became costly as well. The tax rate grew with the GDP’s birth in the 1950s.

The country has always been a victim of economic demoralization. The same reason why the Black Market grew more extensive than ever measuring each flaw in the economic system. The make in India initiative was an idea which wasn’t feasible for a country like India that was low on Industrial occupation. Labor work higher than ever, but the setup for the work didn’t exist. The call for industrial setups with a scheme or incentive was in effect, and thus India slowly developed into an industrial country. Over the years, India has been the manufacturers of many products. From vaccines, medicines to Products which was essential for Home use. This increased India’s standards onto the world market, thus creating an economic value.

The Rise of the Smart Phone Industry in India

In 2007, the world was introduced to an extraordinary; it revolutionized the telephone industry; the iPhone. It came to great reviews and was a device that got sold out quickly. Its dynamic nature and capabilities made way for the other industries to bring out more revolutionary ideas. The smartphone industry became a symbol of the economic rise in the countries that followed suit. Though the smartphone industry was a late-bloomer in India, it still didn’t fail to capture the Market soon, once the consumer wanted such a device full of features that could ease their work.

The Indian Mobile Industry was initiated later on in 2014 in full swing; companies like Samsung, who had already made their mark with Mini-phones, had now started bringing their devices to India. When Modi had tried to implement the ‘Make in India’ movement, companies like Micromax, Lava, and many more had introduced devices for the sole Indian Market. The came Modi’s Digital India project, The Freedom 251 phones, then overthrew the Market for its crazy price at Rs. 200. The phones then introduced were at a range that was affordable for all. This encapsulated the Market even further, and many companies wanted to bring their devices to the Indian consumer’s hands.

OnePlus and more of such top tier class handset makers toppled the Market over the budget phones with high-end features. OnePlus mainly paved the way for all other phone manufacturers to push their phones to the budgetary prices. The Indian Market pushes itself to capture the best markets around it to stabilize and grow the economy. The recent ‘aatmanirbhar’ campaign was initiated by Modi to capitalize on the Indian economy dependent on the Chinese to manufacture the products. The Government had to find out ways to improve their market, and thus, the Idea of the Production Linked Incentive scheme came into effect.

The PLI Scheme Effect

The PLI scheme could be a huge booster for the export of electronic devices. The scheme was of the Idea to provide specific incentives for the formation of factories and manufacturing sectors in India. The Initiative was formally recognized but was fading away with the onset of the COVID-19 pandemic, and doubt arises as to how the consumers would buy devices in a post-pandemic world. Several decisions were made regarding how the scheme could be applied when the industries were facing losses, and could they even recoup their losses if they set up and would the consumers buy their products? Those were the questions that were formulated then.

The October PLI scheme was revalued with an incentive at 4 to 6 percent for India’s foreign industrial development for five years. The scheme is basically like a tender; the companies that sold their handsets above 200 Dollars or Rs. Fifteen thousand in India would be eligible to claim the incentive. This price range would encapsulate the consumers that could afford their devices, and thus India could transition easily digitally. The logical reasoning had to be applied; 16 companies were sanctioned to set up in India and formulation contracts. More of such paperwork had to be accomplished, and by then, they wouldn’t enough time to crack the targets.

The solution to enhance the workforce wasn’t feasible due to the pandemic, close contacts couldn’t be maintained, and the chances of getting sick are high. Indian companies like Micromax, lava signed on to the objective, had guaranteed the target crack by 2021 FY-end. It is also with the Government’s co-operative promise to produce a 5-6% Billion Dollars (approximately) during the five years. India is a country of very patriotic users; the number of users who use Indian branded phone is more at a massive percentage than the one who uses a Foreign Android brand or an iPhone.

The scheme could be one of India’s most celebrated schemes if the regulations are really in place. The export rates by popularity could shoot up to greater heights. This could nudge India’s export rates, boost the economy, and grow India’s GDP in the next few years. The scheme’s success will be solely based on the paperwork and time it takes for these companies to begin production.

My passion is Reading and writing. Basically, an optimistic introvert. Always striving to be better. Writing as a passion leads me to become stronger and focused.

Source: https://timesnext.com/pli-scheme-the-make-in-india-solution/

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Immune T-cells may the best way forward to long-term protection against COVID-19, Stanford Professor Dr. Scott Atlas says

In early March, MIT biologist Dr. Shiva Ayyadura said fear-mongering on coronavirus will go down as the biggest fraud to manipulate economies. Dr. Shiva is not downplaying the risk and the deadly nature of coronavirus. Instead, Dr. Shiva brought the attention back to the importance […]

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In early March, MIT biologist Dr. Shiva Ayyadura said fear-mongering on coronavirus will go down as the biggest fraud to manipulate economies. Dr. Shiva is not downplaying the risk and the deadly nature of coronavirus. Instead, Dr. Shiva brought the attention back to the importance of talking about immune health and boost our immune system.

In a tweet back in March, Dr. Shiva said the media need to stop using coronavirus as a disguise to control people’s lives.

“As an MIT PhD in Biological Engineering who studies & does research nearly every day on the Immune System, the #coronavirus fear mongering by the Deep State will go down in history as one of the biggest fraud to manipulate economies, suppress dissent, & push MANDATED Medicine!”

Then in September, a team of scientists found that vitamin D deficiency may raise the risk of getting COVID-19. In a retrospective study of patients tested for COVID-19, researchers at the University of Chicago Medicine found a link between vitamin D deficiency and the likelihood of becoming infected with the coronavirus. Even Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said he takes two vitamins to help keep his immune system healthy.

In an interview with Jennifer Garner, Dr. Fauci said: “For example, if you are deficient in vitamin D, that does have an impact on your susceptibility to infection. So I would not mind recommending, and I do it myself taking vitamin D supplements. The other vitamin that people take is vitamin C because it’s a good antioxidant. So if people want to take a gram or two at the most vitamin C, that would be fine. So vitamin C and vitamin D. Okay. Any of the other concoctions and herbs I would not do.”

Having a better immune system could explain why some people are less susceptible to coronavirus. Dr. Shiva went into greater detail to explain how coronavirus works and why building our immune system may be a good safeguard against viruses. Dr. Shiva explained that it is not the virus or pathogens that kill people but the overaction of a weakened and dysfunctional immune system. Dr. Shiva went on to explained molecular systems’ understanding of the virus and how “Vitamin D destroys for you.

Fast forward eight months later, Dr. Shiva turned out to be right. In July, scientists discovered some coronavirus patients recovered from COVID-19 infection but mysteriously did not have any antibodies against the virus. When they later tested blood samples taken years before the coronavirus pandemic started, they later found that many of these coronavirus patients recovered from COVID-19 infection due to the presence of T-cell immunity in their bodies.

T-cells also called T lymphocyte or memory T-cells are immune cells that fight infection. T-cells also play an important role in fighting pathogens like viruses and bacteria. T-cells are also known to target and kill cancer cells. T-cells are one of the two primary types of lymphocytes—B cells being the second type—that determine the specificity of the immune response to antigens (foreign substances) in the body. Their main purpose is to identify and kill invading pathogens or infected cells.

Dr. Shiva is not alone. Dr. Scott Atlas is a former chief of neuroradiology at Stanford University Medical Center and a senior fellow at Stanford’s Hoover Institution. In an interview, Dr. Atlas discovered the importance of boosting our immune health. Dr. Atlas went on to discuss the need to harness the power of T-cell immunity instead of focusing on antibody immunity that could be lost in just three months. Dr. Atlas suggested that we should be harnessing the power of T-cell immunity instead of focusing on antibody immunity which only lasts for six months.

Some scientists disagreed with Dr. Atlas saying that ‘T cell immunity’ will not end the pandemic sooner. “It’s just a misunderstanding of the science,” said Dr. Shane Crotty, a virologist at the La Jolla Institute for Immunology who co-authored the groundbreaking research on T cells in June. “We have no data and neither does anybody else as to whether these T cells really help or not,” Crotty said.

However, in another study first published in the journal of Nature and led by Antonio Bertoletti and a team of researchers at the Duke-NUS Medical School in Singapore, they found that “memory T cells might protect some people newly infected with SARS-CoV-2 by remembering past encounters with other human coronaviruses. This might potentially explain why some people seem to fend off the virus and may be less susceptible to becoming severely ill with COVID-19.” T-cells are not just one of the best weapons in fighting coronavirus, a new study published this month in MedScape found that “T-cells may best antibodies for detecting past COVID-19 infection.”

Explaining why T-cell immunity is better than antibodies, Dr. Atlas told reporters in a briefing:

“The immunity to the infection is not solely determined by the percentage of people who have antibodies … the reality is that according to the papers from Sweden, Singapore and elsewhere there is cross-immunity highly likely from other infections and there is also T-cell immunity, and the combination of those makes the antibodies a small fraction of the people that have immunity.”

Dr. Atlas went on to share some evidence that suggests T-cell immunity may provide long-lasting protection against coronavirus. Below is a video of Dr. Atlas explaining why T-cell immunity is better than antibodies.


Source: https://techstartups.com/2020/11/28/immune-t-cells-may-best-forward-long-term-protection-covid-19-stanford-university-professor-dr-scott-atlas-says/

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India’s Trillion Dollar Digital Opportunity – Illusion or Certainty?

On Thursday, Amitabh Kant, Niti Aayog CEO (1), stated that digital infrastructure is now indispensable for society’s functioning. India can create 1 trillion USD economic value using digital technology through 2025.  While addressing a virtual event organized by industry body FICCI, Federation of Indian Chambers of Commerce and Industry (2), Kant added that the COVID-19 […]

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On Thursday, Amitabh Kant, Niti Aayog CEO (1), stated that digital infrastructure is now indispensable for society’s functioning. India can create 1 trillion USD economic value using digital technology through 2025. 

While addressing a virtual event organized by industry body FICCI, Federation of Indian Chambers of Commerce and Industry (2), Kant added that the COVID-19 pandemic had offered a thurst to the ever-growing digital foundation. 

“Digital infrastructure has become imperative to the functioning of society – India can create USD 1 trillion of economic value using digital technology by 2025,”

– Amitabh Kant, CEO Niti Ayog (3).  

He further added that digital infrastructure has emerged as a significant infrastructure compared to traditional infrastructure necessities such as road and power. It has become essential for India to grow its digital infrastructure to use frontier technology in economic development. 

Kant also emphasized that the digital is the future, and if India wants to improve the social sector or health sector, then going digital becomes necessary. The CEO also highlighted that the global electronics market worth is estimated at 2 trillion USD, and India’s share in the market grew to 3% in 2018, from 1.3% in 2012 (4). 

Even though it is still considered minuscule, the government came up with PLI, a Production-linked Incentive scheme for the electronics industry. The industry needs to utilize those schemes and contribute to the ecosystem. He added that since India is rising in the GII, Global Innovation Index, there is an immediate requirement to build a local supply chain (5).

However, India still has a long roadmap to built so its digital economy can unlock productivity and value via transformative infrastructure, applications, and ecosystems. Its journey towards the digital revolution has only started. It is up to us to shape the vision into reality and make India a global digital leader and a role model for the world.  

India’s Digital Opportunity

According to a recent report (6), India can create more than 1 trillion USD economic value from the digital economy by 2025 from about 200 billion USD at present. 

The MeitY, Ministry of Electronics and Information Technology (7) released the report. It takes stock of the digital changes underway in the country and outlines a roadmap for the next few years.  

Notably, India’s digital consumer base is the second largest across the globe and is rapidly growing. The government’s digital model reduces the division and brings technology to even its most remote areas.  

According to the report, over 50% of the potential economic value of the 1 trillion USD can come from new digital ecosystems in several sectors, including financial services, healthcare, logistics, agriculture, e-governances, and jobs. 

Digital India (8) is the government’s flagship program, and there is no denying that it has been transforming the country into a digitally empowered community and knowledge economy. Thanks to government initiatives and smartphone penetration, the technology adoption rate increased rapidly between 2013 and 2018. 

The country recorded 1.22 billion Aadhaar registration, 870 million Aadhar-linked bank accounts, and 98 million daily e-government transactions during the period (9). With the foundation, India can further expand its digital economy. Prominently, India has about half a billion Internet users, and it would create a massive market for digital services, applications, platforms, content, and solutions. 

Radically, India can see a five-fold expansion in economic value via digital transformation in 2025 by representing local and global businesses’ opportunities. It also includes startups and innovators to invest in arising technologies like AI, drones, or blockchain in customized ways according to the country’s need. 

Notably, India is the second-faster growing digital economy among the leading economies across the globe, according to the Digital CountryIndex report (10). It is based on metrics measuring digital adoption in 17 mature and emerging digital economies such as Brazil, China, Russia, Indonesia, South Korea, the United States, and Sweden. 

The report recognized ‘thirty digital themes’ that can scale up nationally to boost nine priority areas’ progress. For progress, the country needs to build robust IT infrastructures, software capabilities, and technology to serve vital national priorities such as education, healthcare, energy, financial services, and e-governance. 

The report also stated that India’s future digital economy could generate productivity and enough output to support 55 to 6o million workers in 2025. To achieve this, Team India requires concerted action with collaboration between the private, social, and government sectors. 

Additionally, digital technologies can change work and create demand for new types of skills and job roles. Apart from solution providers and digital coders, many kinds of work would become digital, and it would make it necessary for employers to give IT skills training to their workers. For instance, delivery personnel and drivers in the logistics and transportation sectors, advisory service agents in areas like agriculture and financing, and healthcare workers would need training.

India can also work in IT and telecom infrastructure and services, energy, e-governance, education, and next-gen financial services. 

“India is at an inflection point — digital has changed the way people communicate, socialize, create, sell, shop, and work. India is poised to be a game-changer in the digital world economy by empowering its citizens and revolutionizing businesses.”

– Prashant Singhal, Emerging Markets TMT (technology, media, and telecom) and Leader, EY (11).

The Key Findings

According to the report, India is among the top three global economies by digital consumer volume. Moreover, India also has the second-fastest growth rate of digital adoption in our comparison set. India’s digital index score has mored to 32 in 2017 from 17 in 2014 (on the 0 to 100 scale). 

It is the second-fastest rise after Indonesia. India has also performed well on e-governance and digital identity, digital media uptake, and mobile internet access growth. 

Notably, India can create up to 1 trillion economic value from the digital economy in 2025, with half of the opportunity in digital ecosystems. It can spring up several sectors in the economy. 

At present, India’s digital economy generates nearly 200 billion USD annual economic value. By 2025, India can create a digital economy of 800 billion USD to 1 trillion USD, equivalent to 18% to 23% of its nominal GDP. 

“I see India turning into a billion-dollar economy in the upcoming three years.”

– Ravi Shankar Prasad, the Minister of Communications and Information Technology (12)

However, there is no certainty that the digital economy would capture the potential value. India cannot achieve the goal without significant, decisive, and speedy action by the government to work with the business sector. 

It needs policy platforms and platforms; otherwise, India would be on a business-as-us trajectory, which would create an economic value of 500 to 650 billion USD, which is less significant than the 1 trillion USD possible full potential scenario.

Essential Principles

India needs five essential principles to secure its places in a borderless digital world with innovation, capital, data, and design capabilities with the fewest pain points. 

The Indian government needs to adopt certain principles to become the global digital factory, narrowing the digital economy’s trade deficit and innovations. 

The Indian government is committed to making India one of the 50 easiest countries to do business, and it has beginning to show results (13). In 2018, the World Bank’s ease of doing business rankings showed India rising an impressive 23 places and coming in at 77th rank. Its ranking leap is significant, considering that India had improved its level by 30 spots in the previous year. It made India in the top 10 jumpers and the only one amongst large countries (14).  

India should build on the momentum and aspire to become the top 10 countries worldwide for digital businesses and startups. It must set time-bound and concrete goals. For example, as in New Zealand, entrepreneurs should start their business in less than a day. It can be achieved by making compliance needs digital and should require minimal time. 

Moreover, domestic saving can also complement the massive amounts of FDI, Foreign Direct Investment, foreign institutional investment, and investment driven by HNI, high net worth individuals into the technology sector. 

The government can engage more proactively by funding digital-focused startups and rationalizing tax rates to make startups investment more favorable than the public markets. 

“India will be an inescapable competitor in the digital economy, and it will be competitive with any country across the world.”

– Sunder Pichai, CEO of Google (15).

Moreover, the Indian government needs to facilitate innovation via several initiatives that conform to the open-API guidelines of the Meity. It would ensure that users have the flexibility to employ raw and processed data according to their objective and interest. It would foster an innovative environment. 

The government is a comprehensive service buyer, and it can also act as a market maker to create a scale for the country’s best technology and innovations applications. Additionally, the competitive advantage for the future digital economy prevails in design development and innovative and creative workplace skills. And for that, India needs to have vibrant higher education institutes that work closely with the industry.

Massive Digital Consumer Base

India had over 1.2 billion mobile and 560 million internet subscriptions in September 2018. The time Indians have spent per user on social media is 17 hours per week, which exceeds both China and the USA (16). India observed rapid digital adoption between 2013 and 2018, with more than 207 million Indians going online in the duration. 

The government’s commitment to digitizing critical aspects of the economy and private-sector innovation and investment to promote internet access and use drove India’s digital adoption. 

The Indian government measures include a rapid ramp-up of Aadhar and its subsequent linkage to pay welfare benefits. A suite of open APIs like UPI; Unified Payments Interface, BHIM; Bharat Interface for Money or Bharat QR code for payments, DigiLocker for online document access and retrieval, eKYC; electronic Know Your Customer for electronic verification of customers’ identities, and the Bharam Bill Payment System formed a part of India’s strong digital foundation. 

The government also triggered the growth of digital payments via the launch of Pradhan Mantri Jan-Dhan Yojana, the national financial inclusion drive in 2014, the demonetization of high-domination currency notes in 2016, which promoted digital payments. And Goods and Services Tax legislation in July 2017, which is expected to propel nearly 10.3 million businesses onto the digital GSTN portal that records sales and transactions data. 

Similarly, global technology giants like Google, Microsoft, Facebook, and Netflix are creating services customized to India. India’s digital growth is evident when we compare it with global leaders.

Befitting All Hands

The Indian government is aspiring to provide its people with affordable and ubiquitous digital access and the internet. It could enable the country to establish a vibrant digital economy that could create up to 1 trillion USD economy by 2025 and pave the way for India to become a global digital factory.  

“Having your apps talk to one another and facilitating a seamless flow of data plays an important role in any business today.”

– Girish Mathrubootham, Founder and CEO of Freshdesk ( 17)

According to the report, there are 30 digital themes for India, aligned to nine pressing areas of the country. These themes can raise productivity, remove barriers, and unlock efficiency to grow and improve millions’ life quality. Even if these digital interventions are not sufficient to meet the nation’s goal, they can help accelerate the progress if implemented at the range.

It includes a robust technology and telecom sector, a critical foundation for an emerging digital economy. Secondly, making government-to-citizen, G2C and Government-to-business, G2B services more useful and accessible. E-governance can also significantly reduce the cost of doing business in India. 

As per the experts, it may become mandatory for physicians to use tech solutions to offer second opinions about patients’ procedures. The software could soon rise as the most prominent healthcare provider, thanks to significant technological advances in healthcare. It could create a bedless hospital, as to how Airbnb has emerged as the biggest hotel chain without owning a single room. 

Over the years, India has made massive investments to improve education access and increase enrolment. However, there are stagnated learning outcomes. Digital channels and content could offer a robust opportunity to bridge gaps such as access and improve learning outcomes. 

Moreover, India’s power sector has focused on improving access, but new reforms like the Integrated Power Development scheme promote IT use to strengthen transmission and distribution. Such digital transformations will expand the focus from access to consumer-level reliability and power supply quality. 

Notably, India has about 60 million micro, small, and medium-sized enterprises, and most of them are in the informal sector. They mostly depend on cash transactions and their sources of finance for growth. However, with next-generation financial services, formal and modern financial services to all economic sectors would be more accessible. 

However, India’s 1 trillion USD digital economy would remain a dream if it won’t significantly impact agriculture. Notably, agriculture accounts for approximately 18% of the country’s GDP and employs over 45% of the workforce. Raising farmers’ income and boosting their financial security is one of the highest priorities of the government. 

To establish a dynamic economy, India must improve its productivity and global competitiveness in manufacturing, trade, and logistics. And for that, India would need to make full use of its demographic dividend and build opportunities for the workforce. 

It is worth highlighting that these questions are not futuristic or improbable since most of them are already under demonstration or pilot programs. Accelerated implementation and adoption of such solutions is essential for India to become a 1 trillion USD digital economy by 2025 (18). 

The Challenges

India’s challenge to become a 1 trillion USD economy is that it is not inevitable and needs to meet several prerequisites and the good governance and executioners to move towards the goal. 

The challenge becomes even steeper when building new and emerging digital exosystems like flow-based lending, tech-enabled healthcare system, and digital platforms to offer new-age skills and give job opportunities. However, these themes’ profitable business models are yet to be fully developed and rolled out at scale. 

Moreover, the policy and regulations for these areas are also uncertain at this point. Hence, the government must work with the private sector and build collaborative working models to push investment and innovation and realize the vision (19). 

It is worth highlighting that if India is not well-positioned in the global digital diffusion race, it could face a splaying ‘digital deficit’ in balancing trade, capital, and intellectual property. And the government could take several actions to boost its digital economy and mitigate the digital deficit risks. 

The government must be committed to improve the ease of operations and reduce the cost for digital businesses. Especially when digital companies offer a useful testbed for the government to standardize, streamline, and compliance procedures. 

The government can also work with business entities to develop market-friendly standards, regulations, and platforms in specific domains as the Reserve Bank of India. It had set up payment processing with the National Payment Corporation of India (20) with private and public sector banks’ involvement as stakeholders. 

There are several conditions for the success of each digital themes. However, the nation won’t realize its full economic value without stakeholders taking action to address obstacles and put catalysts. India needs concerted efforts and new mechanisms to form an association between government and businesses. 

Digital Transformation

Besides supporting the policies and regulations, India also needs partnerships and collaborations. The central government, state governments, private sector, and social sector organizations can bring complementary capabilities and assets to public-private-social associations. 

For instance, while building digital infrastructure and training healthcare workers, the government can lead some digital transformations and business-enabled. In contrast, others could be business-led, and government enabled. 

India can also set up consultative forums specific to respective sectors to engage the country in digital transformation. The government, with participation from the private sector, can lead these councils. Initially, there could be a few councils, such as technology infrastructure, healthcare, skills training, education, transportation, logistics, and agriculture. Each of these councils would include representatives across the value chain. 

They could offer inputs for each sector’s digital strategy to evolve and suggest methods to streamline and simplify regulation and compliance to promote the ecosystem’s growth. 

India can also create a digital dashboard to measure progress on results across existing and future digital initiatives. It would also serve as an essential barometer of the evolution of its digital economy in the years to come and be a tool for reviewing, streamlining action, and shaping future policy. 

India’s digital transformation is expediting, and it has the potential to thrust the country to new heights. The government could build on the already made dynamism by working with all stakeholders to widen and scale its digital economy in the upcoming years. 

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.

Source: https://timesnext.com/indias-trillion-dollar-digital-opportunity-illusion-or-certainty/

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Is Etergo’s acquisition brewing trouble for Investors?

Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and engineering expertise of Etergo with this acquisition to develop its smart electric two-wheeler for foreign and national markets, with the launch in India scheduled for 2021. Ola did not reveal the […]

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Ola Electric Mobility Pvt Ltd had announced (1the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and engineering expertise of Etergo with this acquisition to develop its smart electric two-wheeler for foreign and national markets, with the launch in India scheduled for 2021. Ola did not reveal the acquisition’s financial information. (2)

The most effective and cleanest solution for urban mobility is electric two-wheelers, which will become even more critical in the post-COVID world. Ola Electric aims to turn the 100 million+ worldwide two-wheeler industry, including the 20 million+ Indian two-wheeler market, into renewable energy, a digital future with European architecture, deep engineering cooperation, and India’s manufacturing and supply chain. Ola Electric (3) worked to develop an electric vehicle ecosystem to make ‘clean kilometers’ on a scale. Ola Electric is currently organizing several pilots to introduce electric vehicles and charging solutions across cities, focusing on 2 and 3 wheelers, with plans to set up complete charging and swapping networks across the country. The business aims to create a suite of electrical and intelligent urban mobility solutions for global people, both in India and worldwide.

“The future of mobility is electricity, and the post-COVID world presents an opportunity for us to accelerate the global adoption of electric mobility,”

said (4) Bhavish Aggarwal, Founder & Chairman, Ola Electric.

Compared to cars, almost twice the amount of two-wheelers are sold worldwide last year. With electric, digitally linked capabilities, two-wheelers will continue to emerge as the world’s most common urban mobility paradigm and empower every user.

We look forward to developing the best global engineering, design, and production capabilities for these products manufactured here. He also said,

“I am excited to welcome Ola Electric to Bart, Marijn, and the whole Etergo team and look forward to working closely with them to build on our vision of making electric mobility a reality on a scale.”

Etergo (5) was founded in 2015 to revolutionize intelligent transport, accelerate the global transition to sustainable mobility, and develop healthy and environmentally friendly alternatives.

AppScooter – Etergo’s venture into a new future

The AppScooter is part of the broader, laudable goal of Etergo to speed up the transition towards renewable energy. (6) The scooter is on its way to make a better list because it can also be a secret killer, despite being a brilliant commuting option for our cities. A recent Nature Magazine survey found that a substantial source of particulate matter and toxic organic compounds are the rich combustions of two-stroke scooters. They are more harmful than vans or buses in some developing cities, but it is estimated that 500 million motorized two-wheelers will be sold between now and 2030. Therefore, If Etergo could nail the zero-emission AppScooter, the skylines of Beijing, Bangkok, and Barcelona could genuinely move from smog clouds to smug clouds. (7)

Working and Technology of the AppScooter

To interface with the digital monitor and your phone, the AppScooter features built-in controls directly on the handlebars. The touchscreen enables Android apps to be used while protected. The AppScooter also has two built-in cameras designed to capture your journey’s video and share it quickly on social media. Still, it could also be used for dashcam purposes. The complete 65 liters storage area of AppScooter. (8)

The AppScooter is also well designed in the mechanical and electrical divisions and the fancy features. The AppScooter skips the hub motor and hires a mid-mounted motor with belt drive, unlike many other electric scooters. Depending on how fun you want your commute to be, engine choices on the scooter vary from 2 kilowatts up to 7 kilowatts. The power converts into incredible acceleration, which is just 3.3 seconds exceed 45 km/h. A tremendous urban mobility vehicle with a 7-inch touchscreen display, Bluetooth networking, and mobile device app integration (usable only when the scooter is stationary), all at a reasonable price, starting at 3400 euros. The AppScooter electric scooter allows the driver to speak securely on the phone without taking their hands off the handlebar and to connect their mobile with the Android device to the monitor through Bluetooth. (9)

Trouble for Ola etergo versus Investors?

The acquisition of Etergo by Ola electric on May 27th has caused many problems. First of all, Etergo had been at the capital of 90 Million. The purchase was made at a time where the sale was a loss for Etergo. Here are the basics: (10)

This what they have to say on their investors’ release page: “In the recent past, Etergo has been in talks with several investors around the globe, including Ola Electric, to secure potential funding. Other than the discussions with Ola Electric, these discussions did not lead to any offers that provided a practical opportunity to finance the company’s operational and other requirements and safeguard the company’s future. As a result, the business faced the need to protect its continuity and avenue for potential growth and financing. Given the reality as mentioned above and due to the challenges raised by the steep, funding requirements for automotive hardware and the continuing crisis of COVID-19, the opportunity to partner with Ola Electric has emerged as the best course of action to secure the future of Etergo and AppScooter, while trying to preserve the ability of the organization to implement the vision of Etergo. Thus after due consideration of the alternatives, Etergo has realized that it is in the best interest of Etergo and its workers.”

The statement means a loss will amount to each share for the dividend that is earned by the investors. Owners Bart and Marjin had to waive their consideration over the claims and sell the following shares for 0.0179986 euros per share. The agreement for the sale of Etergo to Ola Electric was authorized by all other shareholders other than the foundations in which Etergo’s crowdfunders hold an ownership interest, which is contractually bound by the foundations to co-sell on behalf of Etergo’s crowdfunders under the same terms and conditions as the other shareholders and the owners continue to remain employed with Etergo.

My passion is Reading and writing. Basically, an optimistic introvert. Always striving to be better. Writing as a passion leads me to become stronger and focused.

Source: https://timesnext.com/is-etergos-acquisition-brewing-trouble-for-investors/

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