Summary
A new solution tackles India’s high dependence on fossil fuels and lack of affordable EV options by designing and manufacturing electric scooters and motorcycles with in-house battery technology. As the market leader with over 30% share and operating the world’s largest two-wheeler factory, it provides cost-effective, sustainable mobility, has raised $660 million in IPO, and plans battery cell production by 2025. To address India’s fossil fuel dependence and limited affordable EV options, a new solution designs and manufactures electric two-wheelers with in-house battery technology. This provides cost-effective, sustainable mobility, reducing emissions and promoting energy independence.
Problem
High dependence on fossil fuels and lack of affordable EV options in India
Impact
Market leader in India’s electric two-wheeler segment with over 30% market share; operates the world’s largest two-wheeler factory; raised $660 million in IPO; plans to commence battery cell production in 2025
Partners
Kalaari Capital , Hyundai Motor Company , Kia , SBI (State Bank of India) , DIG Investment , MacRitchie Investments , Alteria Capital, NAB Ventures