Clean Motion Charges Into India's EV Market With USD 1 Million Investment As part of the new business chapter, Clean Mobility Solution India Pvt. Ltd. plans to establish a dedicated manufacturing facility in Pune to localise and indigenously manufacture its flagship product, Zbee, making it a 'Made in India' three-wheeled passenger EV for global markets.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
In a bid to push the electric mobility in the country, India Accelerator through its leading micro VC Finvolve invested USD one million in a Sweden-based Cleam Motion's Indian subsidiary Clean Mobility Solution India Pvt. Ltd.
Capitalising on its clean mobility solutions, the Indian subsidiary will focus on first and last-mile services, connecting key locations including metro stations, malls, colleges, and offices. To further bolster the company's expansion efforts, Finvolve plans to invest additional USD three to five million in the next two years.
As part of the new business chapter, Clean Mobility Solution India Pvt. Ltd. plans to establish a dedicated manufacturing facility in Pune to localise and indigenously manufacture its flagship product, Zbee, making it a 'Made in India' three-wheeled passenger EV for global markets.
Additionally, the company will set up a robust EV charging infrastructure through operation clusters. Each cluster will be equipped with parking, plug-in chargers, and swappable batteries to serve 20-25 Zbee vehicles in fleet operations.
Talking about Clean Motion AB unfolding its India chapter, Jan Thesleff, Ambassador of Sweden to India said, "I am delighted to witness the collaboration between Clean Motion AB, an innovative Swedish mobility company, and India Accelerator. This partnership signifies a step towards addressing the pressing challenges posed by climate change and the need to think differently about transportation. By combining the strengths of both nations, this collaboration aims to scale-up and contribute to solutions that meet the demands of the Indian market."
Commenting on the fundraise and Clean Motion AB's foray, Ashish Bhatia, Co-founder & CEO, IA said, "India is making impressive strides in the EV space and is poised to lead the charge of sustainable mobility at a global level. It is our strategic investment in the EV space, and we are confident that India's favourable manufacturing environment will provide an impetus for growth to Clean India, bringing about a significant shift in the global EV market."
Elated about the announcement, Deb Mukherji, Country head, Clean Mobility Solution India Pvt. Ltd said that we plan to further raise a Pre-series round of USD 3-5Mn early next year to achieve our scale objectives.
"We appreciate the trust that India Accelerator, Finvolve and other prestigious investors have put in our company's capabilities. Our strategic allocation plan will help us scale our operations, focused on strengthening the country's 'Make in India' efforts and solidifying its position as a leader in the global urban mobility transportation space," he added.
