PE Fund Investments
Electra EV raises $25-M from GEF
Pune-based electric vehicle powertrain solutions company Electra EV has raised about USD 25 million from GEF Capital Partners (via GEF South Asia Growth Fund II) for a minority stake. Electra EV will utilize the capital raised for expanding its product portfolio across electric three-wheelers, electric four-wheelers, agricultural applications, and other EV segments to serve both domestic and international OEMs and Tier 1 automotive suppliers. The company additionally plans to further enhance its design, testing and prototyping capabilities and expand the production capacity to support growing volumes. Setup in 2017, Electra EV designs, develops, integrates, manufactures, and supplies EV powertrains systems across passenger and commercial vehicle segments.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
