Ratan Tata Backed Electra EV Raises $25 Million From GEF Capital Partners

• Electra EV, an electric mobility startup owned and promoted by industrial Ratan Tatahas raised approximately $25 million in investments from GEF Capital Partners.
• founded in 2017, Electric EV designs and develops, integrates, manufactures and supplies EV powertrain systems in the passenger and commercial vehicle segments.
• According to a statement released Thursday, Electra EV will use the capital raised to expand its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications and other EV segments to serve both domestic and international manufacturers.

Electrodrive Powertrain Solution of Electra EV, an electric mobility startup owned and promoted by industrialist Ratan Tata, has raised approximately USD 25 million in investment from GEF Capital Partners.

Founded in 2017, Electra EV designs, develops, integrates, manufactures and supplies EV powertrain systems for the passenger and commercial vehicle segments.

The offering consists of end-to-end powertrain solutions – providing complete systems, including battery packs, e-traction systems and integrated electronics, subsystems and components across multiple segments, such as two- and three-wheelers, four-wheelers and EV applications in agriculture and off-road. highway segments.

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According to a statement released Thursday, Electra EV will use the capital raised to expand its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications and other EV segments to serve both domestic and international manufacturers.

The company plans to further enhance its design, testing and prototyping capabilities and expand production capacity to support growing volumes, the statement said.

“This fundraiser provides us with financial resources as well as a like-minded partner like GEF Capital to help us continuously innovate and acquire new customers in India and beyond, realizing our vision to transform the global movement towards cleaner fuels,” said Samir Yajnikexecutive director at Electra EV.

GEF Capital Partners is a private equity fund manager focused on making investments in companies seeking to address the adverse effects of climate change.

“The EV ecosystem is currently in a critical phase and we believe that Electra EV’s differentiated proposition of high performance, safety and affordability offers a strong growth opportunity. We are excited to partner with Electra EV in the next phase of growth and development,” said Sridhar Narayan, Managing Partner of GEF Capital, in the statement.

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