On Monday, the Secunderabad Division of South-Central Railway awarded a contract to Joule Point for the installation of E-Vehicle charging stations at 32 stations as part of the government of India’s ambitious goals to reduce carbon emissions in all major cities by 2030.
An SCR officer said the contract provides an important passenger amenity, as well as generating revenue of Rs 2 lakh per annum.
Hyderabad-based EV start-up lands $1 million funding
Hala, an electric ride-sharing platform based in Hyderabad, announced Wednesday that it had raised $1 million led by Magnifiq Securities.
It is a 100 per cent electric ride-sharing platform that addresses last-mile connectivity issues. Funds will be used to significantly expand the number of electric vehicles, improve infrastructure for swapping, and research and develop new products.
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Hala Mobility, part of T-Hub’s Lab32 and T-Angel program, has seen its Monthly Recurring Revenue (MRR) increase by 40 per cent.
Through pitch reviews, financial projections, valuation certificates, funding need estimations, and equity exchanges, Hala was also able to become investment-ready.
CEO Srikanth Reddy, the founder of Hala Mobility, said, “Since the beginning of Hala’s operations, Hala has covered 8 million green kilometres and saved 717 tonnes of CO2 emissions, 300,000 litres of petrol, and done 32,000 battery swaps per month. Our goal is to build the largest ecosystem for everything electric and we are delighted by the support of our investors.”
It is also worth noting that the Hyderabad-based BikeWo has also opened its first multi-brand electric two-wheeler dealerships in Telangana and Andhra Pradesh. Consequently, the company today announced the appointment of 25 dealers, and the opening of fifteen dealership stores across Hyderabad, Kurnool, Gadwal, Rajamumdhry, Nellore, and Tanuku.
Among its renowned brands are Hayasa, EV Minda, One Moto, E-Motorad, Ekotejas, and Battre. Interestingly, BikeWo is the only company in both Telugu states that has exclusive rights to sell the electric-2Ws of Hayasa and EV Minda.
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