Four EV firms raise nearly ₹3,800 cr for expansion
Business
Big news for India's electric vehicle (EV) scene: four major companies have together raised nearly ₹3,800 crore to help boost production and expand fleets.
Craftsman Automation led the pack with ₹2,000 crore via a QIP, while Ola Electric Mobility added ₹780 crore to strengthen its balance sheet.
Demand for EVs is clearly on the rise.
Simple Energy, JBM Ecolife secure funding
Simple Energy from Bengaluru grabbed ₹250 crore in Series B funding to ramp up manufacturing.
JBM Ecolife Mobility secured ₹750 crore and plans to grow its electric bus fleet from around 3,400 to nearly 5,000 within a year.
According to Equirus Capital, these investments, plus steady government support, are speeding up India's shift toward electric rides and making the future of EVs look pretty bright.