EV startup promoted by Ratan Tata raises 25 mn dollars to develop new models

Electrodrive Powertrain Solution or Electra EV, an electric mobility startup owned and promoted by industrialist Ratan Tata, has raised about USD 25 million in investment from GEF Capital Partners.

By: ANI
| Updated on: 04 Nov 2022, 16:59 PM
Follow us on:
Follow us on:
Electra EV will utilize the raised capital for expanding its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments.
Electra EV will utilize the raised capital for expanding its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments.
Electra EV will utilize the raised capital for expanding its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments.
Electra EV will utilize the raised capital for expanding its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments.

Set up in 2017, Electra EV designs and develops, integrates, manufactures, and supplies EV powertrains systems across passenger and commercial vehicle segments.

Its offerings are end-to-end powertrain solutions - supplying full systems including battery packs, e-traction systems, and integrated electronics, sub-systems, and components across multiple segments like two and three-wheelers, four-wheelers and EV applications in agriculture and off-highway segments.

According to a statement on Thursday, Electra EV will utilize the raised capital for expanding its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments to serve both domestic and international manufacturers.

Similar Products

Find more Cars
Tata Tiago Ev (HT Auto photo)
Tata Tiago Ev
19.2 kWh | Electric | Automatic | 250 Km
₹8.49 - 11.79 Lakh**Ex-showroom price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Nexon Ev Prime (HT Auto photo)
Tata  Nexon Ev Prime
30.2 kWh | Electric | Automatic | 312 Km
₹14.99 - 17.5 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev Max (HT Auto photo)
Tata Nexon Ev Max
Electric | Automatic
₹17.74 - 19.24 Lakhs**Ex-showroom price

The Company plans to further enhance its design, testing, and prototyping capabilities and expand the production capacity to support growing volumes, the statement said.

"This fund raise provides us with both financial wherewithal and a like-minded partner like GEF Capital to help us continuously innovate, and acquire new customers in India and overseas, thereby achieving our vision of transforming the global movement towards cleaner fuels," said Samir Yajnik, Executive Director at Electra EV.

GEF Capital Partners is a private equity fund manager focused on making investments in companies that seek to address the adverse effects of climate change.

"The EV ecosystem is currently at a pivotal stage, and we believe Electra EV's differentiated proposition of high-end performance, safety, and affordability provides a strong growth opportunity. We are excited to partner with Electra EV in its next phase of growth and development," GEF Capital's Managing Partner Sridhar Narayan said in the statement.

First Published Date: 04 Nov 2022, 16:59 PM IST
Recommended for you
View all
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city