News on Medial

British International Investment to invest $33.5M in Indian EV startups

YourStoryYourStory · 19d
British International Investment to invest $33.5M in Indian EV startups

The UK's development finance institution, British International Investment (BII), has announced investment commitments of $33.5 million in India's electric vehicle (EV) sector. The funding includes debt financing for Everest Fleet to expand its EV fleet, equity investment in TI Clean Mobility for scaling its EV manufacturing capabilities, and equity commitment to Vecmocon for enhancing its research and development in the EV component manufacturing. BII has been actively investing in India's EV sector and aims to contribute to India's energy transition and decarbonization efforts. The investments align with BII's goal of investing up to $1 billion in climate-friendly initiatives and green technologies in India.

Comments

Download the medial app to read full posts, comements and news.