Pravaig Dynamics: Indian EV startup reaches deal to export batteries to Greece

Pravaig Dynamics

A southern Indian electric vehicle startup has reached a deal to export its energy storage systems for solar farms in Greece, The Week reported. According to the Indian outlet, this is a breakthrough for the Bengaluru-based firm since Europe has a competitive renewable energy market.

Pravaig, known for making high-precision batteries for its EVs, unveiled the Defy EV SUV in 2022. Priced at Rs 39.5 lakh, Defy EV has a range of 500km with a top speed of 210 kmph top speed. It had also signed an MoU with Saudi Arabia to build a manufacturing plant to produce left-hand drive EVs for the Gulf and European region as well as the US.

In the latest Greece deal, the company will sell batteries with a capacity of 20 MwH, according to The Week.

"Pravaig Dynamics has successfully closed a deal to export its first batch of energy storage systems for solar farms to Greece. This ground-breaking export not only marks India's entry into the global market for solar farm storage solutions but also signifies a significant stride in international economic cooperation," the company stated.

Though the current order size is small, the startup hopes to ink larger contracts in the future.

"This export represents a crucial turning point for India in the realm of renewable energy and international diplomacy. By demonstrating our capabilities in designing and manufacturing cutting-edge technology for solar farm storage solutions, we are not only promoting sustainable energy practices but also strengthening diplomatic ties with countries like Greece," said Siddhartha Bagri, CEO of Pravaig Dynamics India.

READ MORE: India: Contacts in New Delhi with Greek businesses begin – The agreements and the program.

Copyright Greekcitytimes 2024