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Mobility

Indian EV industry records INR 25,045 crore (€2.9 billion) investments in last seven months

The Covid-19 pandemic and its damage to the Indian economy did not deter the discerning investors from lapping up opportunities in the electric vehicle and e-mobility sector. Many financial deals and the funds involved vindicate this fact. Collective investment done by e2W, e4W, EV component makers, electric commercial vehicles, and last-mile delivery companies was recorded at INR 25,045.31 crores (€2.9 billion) during January-July 2021. Electric commercial vehicles led the investments with a 32% share. Electric 4W saw an investment of 28% where M&M invested INR 3000 crore (€0.35 billion) making its contribution at 12%. It has already invested INR 1,700 crore (€0.2 billion) in India's EV business, with another INR 500 crore earmarked for a new research and development (R&D) centre

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