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…
Mahindra Seeks Investors For Electric Vehicle Business
Indian automaker Mahindra & Mahindra is looking for investment partners for its domestic electric vehicles business and is finalising investment plans for its Automobili Pininfarina unit, the group’s managing director said. The automaker wants to be a key player in…
Mobility Tech Sees VC Interest Despite Global Immobility
At a time when human mobility has been severely curtailed by a global pandemic, VC funds are witnessing an opportunity in the challenge. A new report on funding activity during the second quarter of 2020 indicated that micro-mobility was one…
Hero MotoCorp Makes Fresh Investment Of Rs 84 Crore In Ather Energy
India’s largest two-wheeler maker Hero MotoCorp on Friday announced a further investment of Rs 84 crore (US$11million) in Ather Energy, taking up its shareholding in the company to 34.58 per cent. Prior to the investment, Hero MotoCorp’s shareholding in Ather…
Chinese Electric Vehicle Maker Li Auto Aims To Raise Up To $950 Million In Growth Push
Chinese electric vehicle maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has launched an initial public offering of up to $950 million, in one of the biggest U.S. listings by Chinese companies this year. The five-year-old automaker,…
Workhorse Announces Closing Of $70 Million Financing From Institutional Investor
Workhorse Group Inc., an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today announced the closing of its previously announced financing agreement for a $70 million Senior Secured Convertible Note (the…
UK’s Oil Giant BP To Invest $70 Million In India’s Green Growth Equity Fund
United Kingdom-based oil giant BP announced its plans to invest $70 million (~₹5.22 billion) in India’s Green Growth Equity Fund (GGEF), which aims at promoting zero carbon and low carbon energy solutions in the country. Once the transaction is completed…
