New Delhi: Virtual Forest, a number one professional in motor management electronics and human interface applied sciences, has entered right into a three-year collaboration with Arrow Electronics, a worldwide supplier of expertise merchandise, providers, and options, to develop, market and distribute 3 KW to fifteen KW motor controllers for electrical two and three-wheelers.
The collaboration memorandum of understanding (MoU) was signed on the India Electronics and Semiconductor Association (IESA) Vision Summit 2022 in Bengaluru on Wednesday. Virtual Forest might be chargeable for the R&D of the motor controllers, which might be solely marketed and distributed by Arrow Electronics, Virtual Forest stated in a media launch.
“Our strategy is to drive the mass adoption of electric mobility in India through local R&D and manufacture of components for the light electric vehicle (LEV) segment. We are developing world-class motor controller solutions that deliver industry-leading performance in terms of range, top speeds and features. Our association with Arrow Electronics solidifies our aspirations of leveraging technology for a greener future and reducing our dependence on neighbouring countries for critical electronic components. Virtual Forest will develop and own the IP of the motor controllers, fulfilling our dream of increasing Indian electronic exports,” Omer Basith, Founder CEO, Virtual Forest, stated.
India’s EV journey might be spearheaded by the LEV section, particularly two and three-wheelers. The two-wheeler section is extraordinarily giant in India – roughly 75% of automobiles working on Indian roads are two-wheelers. Already valued at USD 2.11 billion, the market is predicted to achieve USD 3.94 billion by 2027F with a CAGR of 10.53% (as per a report by ResearchAndMarkets.com).
The electrical two-wheeler market is predicted to develop at a CAGR of 43.4% between 2021 and 2027. Projections anticipate that 8%-10% of all two-wheelers bought might be EVs by 2025, whereas this quantity might be 30% for three-wheelers (as per a report by ICRA), the discharge added.