Indian Economy News

Mr. Ratan Tata-owned electric vehicle startup raises US$ 25 million

  • IBEF
  • November 7, 2022

GEF Capital Partners has invested roughly US$ 25 million in Electrodrive Powertrain Solution, also known as Electra EV. The electric mobility startup owned and promoted by Mr. Ratan Tata was setup in 2017.

Additionally, it provides full systems that comprise battery packs, e-traction systems, integrated electronics, sub-systems, and components for a variety of vehicle types, including two- and three-wheelers, four-wheelers, and EV applications for the agricultural and off-highway markets.

In order to accommodate rising demand, it also intends to increase production capacity and improve the design, testing, and prototyping skills.

"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”, said Mr. Sridhar Narayan, GEF Capital's Managing Partner.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.