Electric 3-wheelers maker 3ev Industries raises Rs.120-Cr led by Mahanagar Gas

Bengaluru-based electric vehicle (EV) manufacturer 3ev Industries has raised INR 120 crore in Series A funding led by Mahanagar Gas Ltd (MGL). MGL invested INR 96 crore in the round, with the Thackersey Group contributing INR 10.46 crore and Equentis providing INR 8.15 crore.The funds will be used by 3ev to expand its manufacturing capabilities and launch its "3C" division, which focuses on charging, care, and conversions. This investment will also support advancements in its supply chain and research into areas like regenerative braking and solar-enabled EV technologies.