Mahindra & Mahindra Commits ₹120 Billion to EV Expansion by FY 2027
Automobile manufacturer Mahindra & Mahindra plans to invest ₹120 billion (~$1.43 billion) in its electric vehicle (EV) unit, Mahindra Electric Automobile (MEAL), over the next three years up to March 31, 2027. In a stock exchange filing, the company stated…
Relux Electric Gets INR 250 Crore in Project Funding
Relux Electric has received INR 250 crore in project funding from a consortium of private real estate and infrastructure investors. At present, the company operates more than 100 charging stations, primarily situated along major highways and key urban areas, catering…
GEF Invests ₹5.8 Billion in TI Clean Mobility to Develop EV Verticals
TI Clean Mobility (TICMPL), a wholly-owned subsidiary of Tube Investments of India, a Murugappa Group company, has raised ₹5.8 billion (~$69.5 million) in equity and convertible preference shares from South Asia Growth Invest III LLC and South Asia EBT Trust…
Eka Mobility to Invest Rs 600 Crore in Pune Plants for EV Manufacturing
Eka Mobility, a Pune-based electric vehicle (EV) manufacturer, has announced a significant investment of Rs 600 crore for the expansion of its manufacturing facilities in Chakan and Koregaon Bhima. Sudhir Mehta, the founder and chairman of Eka Mobility, revealed plans…
Charge Zone Secures $19 Million from BII to Expand EV Charging Infrastructure
Charge Zone, an India-based electric vehicle (EV) charging network firm, has secured a commitment of $19 million from British International Investment (BII), the United Kingdom’s development finance institution, to accelerate the expansion of EV charging infrastructure in India. The investment…
Kenya to Invest 1.9 mln USD to Boost EV Adoption in 3 years
Kenya Power, the country’s electricity distributor, said on Monday that it will invest 1.93 million U.S. dollars in the next three years to spur the adoption of electric vehicles (EVs) in the country. Kenya Power Managing Director Joseph Siror said…
Macquarie to Invest $1.5 bn in EV Leasing, Charging Infra
Macquarie Asset Management (MAM) on Monday launched Vertelo, a platform to provide end-to-end solutions in fleet electrification, and committed to invest $1.5 billion over 10 years in India. The company aims to accelerate the transition of fleets to EVs and…
Mahendra Singh Dhoni Ventures into the EV Space: Invests in EMotorad
Pune-based EV startup EMotorad recently forged a significant partnership with cricket legend and former Indian Captain Mahendra Singh Dhoni. His strategic investment will entail equity ownership in EMotorad alongside his new role as the company’s brand endorser. Expressing his enthusiasm…
CMA CGM Joins Renault and Volvo in Flexis Electric Truck JV
CMA CGM has joined the Flexis electric light van manufacturing joint-venture, formed between carmakers Renault and Volvo last month. The French container shipping line announced this morning it had invested €120m in Flexis SAS to acquire a 10% stake in…
CESL Invites Bids for 3,132 Electric Buses Under PM-eBus Sewa Initiative
Convergence Energy Services Limited (CESL) has invited bids to select an operator for the procurement, supply, operation, and maintenance of 3,132 electric buses (e-bus) and the development of allied electric and civil infrastructure on gross cost contracting under Pradhan Mantri…
