This product is a significant upgrade to its heavy-duty electric motor technology with the new HTM-3500 motor, doubling the continuous power output of its predecessor.

The slower-than-expected transition to electric vehicles is one of the main factors behind the decision to restructure the business, though Northvolt’s CEO and co-founder, Peter Carlsson, said, “there remains no question that the global transition towards electrification — and the long-term outlook for cell manufacturers, including Northvolt — is strong”.

The new ‘Charging Management’ service is intended to increase fleets’ productivity and uptime and reduce the number of unplanned charging sessions.

Grants totalling USD1.7bn will be made available to support as many as eleven closed or at-risk automotive manufacturing and assembly facilities in switching to the production of electric vehicles and components.

The TVS dealerships are in the National Capital Region (NCR) in northern India; two in Faridabad and the other in Greater Noida.