Volkswagen To Invest €15 Billion In Electric Mobility By 2024 In China
Volkswagen, a Germany-based automobile manufacturer, announced its plans to invest €15 billion (~$ 17.53 billion) in China’s electric mobility segment by the end of 2024. The carmaker’s China arm will collaborate with its joint ventures, including SAIC Volkswagen, FAW-Volkswagen, and…
Northvolt Raises $600 Million In Equity To Invest In Capacity Expansion, R&D & Giga-scale Recycling
Northvolt announced the signing of a $600 million private placement, led by Baillie Gifford, Goldman Sachs Merchant Banking Division and Volkswagen AG, enabling the company to make further investments in expanding its production and recycling capacity as well as R&D…
China’s Electric Carmaker WM Motor Pulls In $1.47B Series D
Chinese electric vehicle startup WM Motor just pocketed an outsize investment to fuel growth in a competitive landscape increasingly coveted by foreign rival Tesla. The five-year-old company raised 10 billion yuan ($1.47 billion) in a Series D round, which will…
Toyota To Invest Rs 2,000 Crore In India
Toyota Kirloskar will invest Rs 2,000 crore in developing vehicle technology and electric components in India, a top official said hours after a news article claimed the carmaker was bringing all new investments in the country to a halt. “Absolutely!…
South Korean EV Giant Edison Set To Invest Rs 5,000 Crore In UP, Meets UP CM
A delegation of South Korean electric vehicle manufacturer, Edison Motors met Uttar Pradesh Chief Minister Yogi Adityanath and expressed their desire to invest in the state, an official said. The delegation led by Managing director Y K Lee met the…
E-Mobility Startup BluSmart Bags $7 Mn For Expansion
Delhi-based electric mobility startup BluSmart has raised $7 Mn (INR 51 Cr) in funding from multiple investors including Inflections Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhattisgarh Investments Ltd, Jain International Trade Organization (JITO) Angels, Lets Venture Fund and…
TVS Motor Raises Stake In Startup Ultraviolette, Invests Rs 30 crore
TVS Motor Company has raised its stake in Bengaluru-based electric vehicle startup Ultraviolette Automotive by pumping in Rs 30 crore. In FY20, it had invested Rs 11 crore in the startup, which aims to put a high performance electric bike…
Dr. Paolo Castagna Ex Managing Director Fiat India Invests In Electric Vehicles’ Start-Up EVage
Dr. Paolo Castagna, Ex Managing Director, Fiat India Automobiles Pvt Ltd, has invested an undisclosed amount in mobility tech startup EVage. The mobility startup has built India’s 1st ‘Make in India’ ‘Exoskeleton Structure’ that will provide a common platform for…
Ola Electric Co-founder Anand Shah Invests In EV Startup Evage
Mobility tech startup Evage said it has raised an undisclosed amount of funding led by Ola Electric co-founder and senior advisor Anand Shah. Bryair director Varun Pahwa and DMI group partner Anmol Nayyar also participated in the funding round. Conceptualized…
Korean EV Maker Edison To Invest Up To Rs 5,000 Cr In UP, Create 5,000 Jobs
South Korean electric vehicle maker Edition Motors today evinced interest in investing almost Rs 5,000 crore to set up its production facility in Uttar Pradesh. The company has proposed to invest Rs 500-700 crore in the first phase, Rs 1,000-1,500…
