Hero Electric Vehicles, the country’s largest EV manufacturer, has raised ₹220 crore in growth investment in a round led by Gulf Islamic Investments (GII) and participation from OAKS. The company will make use of this infusion of cash to pursue its goal to deliver extended support for not only India’s EV ecosystem but also the EV industry.
The electric two-wheeler manufacturer explained this new investment will be dedicated to the expansion of its production capacity, pursuit of futuristic technology, achievement of better sales, and growth of its footprint across other markets similar to India.
The Electric vehicles market has undergone tremendous change over the last few years. The policies are extremely conducive for the growth of the segment and despite the pandemic, the company is poised to grow at over 2X from the last fiscal.
Hero Electric is committed to its mission of – No Emission and build a sustainable future that is electric and aims to sell over 1 million units per year in the next couple of years.
This is a Syndicate News Feed; edited by Clean-Future Team