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Electric mobility startup EV Motors India in talks to raise ₹1,400 crores


Noida-based electric vehicle startup EV Motors India is in talks to raise INR 1,400 crores to build a network of 6,500 electric vehicle charging outlets across India in the next five years. The firm is in talks with DLF, ABB India, and Delta Electronics to carry on the plan.

The startup inaugurated the very first charging outlet named ‘PlugNgo’ in Gurugram on November this year. EV Motors India will install more outlets at various business and residential complexes across different Indian cities and all will be integrated into its cloud-based integrated software platform.

In the upcoming years, the startup will build 20 outlets in Delhi NCR region and later install more outlets in cities like Bengaluru, Jaipur, Kanpur, Mumbai, Hyderabad, Bhubaneshwar, Indore, Chennai, Cochin, Amritsar, Pune, Kolkata, Ahmedabad, and Chandigarh.

Talking about expansion plans supporting EV adoption in India, Vinit Bansal, Managing Director, EV Motors India, said, “Towards the vision of a large fleet of EVs across the country, a co-ordinated approach between real estate developers, vehicle OEMs and charger manufacturers is necessary.”

The government of India is pushing hard for the adoption of hybrid and electric vehicles which may hit around 6-7 million sales year on year starting from 2020. With the aim of delivering customized support on installation, maintenance and servicing, the startup will support vehicles including two-wheelers, three-wheelers, cars as well as buses.

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