E-vehicle maker Clean Motion to invest $10 million in India - Feedback

Sweden-based electric vehicle maker Clean Motion plans to invest USD 10 million (about Rs 66 crore) in India over the next three years to expand operations including setting up of an assembly unit for its Zbee three- wheelers in the country.

The company, which runs its electric three-wheeler Zbee in Gurgaon’s DLF Cyber City, aims to provide last-mile connectivity in India’s congested urban areas and is talking to mall developers in Bengaluru and Mumbai as well as SEZ operators in Hyderabad. Besides, it is also targeting tourist spots like Taj Mahal to operate its fleet of electric three-wheelers, which are positioned as a premium product unlike e-rickshaws. “We plan to invest USD 10 million over the next three years. At the end of the third year, we expect to have a fleet of around 2,000 vehicles cumulatively,” Clean Motion Country Head Anil Arora told PTI. As a startup, the company has already seeded $1 million in the project, he added.


About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *