Bhago Mobility Solutions Acquires Stake In Pastiche Energy Solutions

Bhago Mobility Solutions Private Limited (Bhago), the Green Energy Vertical for Modern Automotive Limited (MAL), has announced an equity acquisition in Pastiche Energy Solutions (P) Ltd (Pastiche), one of the oldest players in the Energy Storage Sector in India, since 2015. The partnership will aggregate the strengths of both the companies towards the manufacturing of Solid State Batteries, Lithium batteries and Allied Products for applications such as Electric Mobility, Energy Storage, Defence, Aerospace, Telecommunications and others.

With this, Pastiche brings its experience and knowledge in the field of Lithium Battery Technology, Manufacturing, Sales and Products for various application and Bhago, through MAL, brings its existing relations with the Japanese and Global Automotive OEMs, International & National Collaborations, Organisational Strengths, Engineering Skills, Manufacturing Capabilities, Operational Processes and Engineering Technology. The firms have a presencein  Electric Mobility and Stationary Storage Systems through its Advanced Solid State Battery Technology.

Bhago-Pastiche has commenced operations at Chandigarh and Bangalore, and further expanding operations in Gurgaon and Ahmedabad to develop a PAN India Sales and Support network.

For the growth expansion, Bhago has allocated a total investment of USD 16 Million for its Green Energy Vertical. An upfront investment of USD 4 Million shall be made into Pastiche as Capex and Upgradation of the existing setup to a State-Of-Art Production and Testing Facility at Chandigarh. The company has also stated its plans to set up a dedicated R&D unit in Bangalore for Cells and Battery Packs. Another USD 12 Million is planned and scheduled to be infused within two years, with a vision to have an installed production capacity of 1GW. Within Qtr 2 2022, the company plans to demonstrate its new range of Cell Technology – Solid State Battery, gaining the 1^st movers advantage in the technology in India. The company is set to launch Advanced Modular Battery Solutions, which are not only compact, intelligent and swappable but through Battery Analytics and Artificial Intelligence offer predictive and safe battery solutions. These customised battery packs can also be monitored and controlled in real time through remote monitoring and GPS solutions.  

Modern Automotive Limited has been a Tier 1 Supplier for leading 2 wheeler automotive companies like Honda, Hero, TVS, etc. The company has leveraged its skills and experience and invested its resources in Solid State Battery Cell Technology, Battery Pack Building and Testing to deepen its footprints in the Green Mobility Vertical through Bhago. Additionally, the company has also invested in Advanced and Unique Technologies which enhance the efficiency and deliverability of Electric Vehicles. The company has also invested in Application Technology for the final delivery of services to the customer at his door step. The company has claims to have also invested in Recycling Technologies