Redler Technologies has signed a long-term strategic partnership with the Indian Virtual Forest that will assimilate patents of the Israeli company with an initial investment of $ 5.5 million
Redler Israeli Technologies, which specializes in global solutions and patents in the fields of electric power and propulsion, has signed a strategic partnership with the Indian Virtual Forest (VF) - developing technologies for miniature electric, micro-EV- two- and three-wheeled vehicles - for the Indian market and East Asia for $5.5 million. The company will provide revolutionary propulsion control solutions to the EV sourcing industry - which is gaining momentum, as part of a green electric revolution, to which India and its neighbors are marching.
The collaboration will include a combination of innovative technological solutions and the flagship products of Redler Technologies, starting from the development stage and after the production, integration and support stages together with VF while adapting them to exact needs to new developments and two- and three-wheeled EV vehicles.
The propulsion controller market is enjoying steady growth in line with the EV market which is experiencing tremendous growth in India and East Asia. In 2021 this market wheeled a sum of $ 3.8 million and is expected to grow by 3000 percent to a value of $ 267 million by 2025.