Schedule a Call Back
EV startup River to open Rs 10 billion manufacturing facility in Telangana
Industry News- Jul 12,24
The company has already invested about Rs 2.5 billion in its R&D facility and leased factory in Bengaluru, which has a capacity of 100,000 units per year.
Bengaluru-based electric vehicle (EV) startup River Mobility Pvt Ltd is considering establishing a manufacturing facility in Telangana with an annual capacity of 500,000 vehicles and an investment of approximately Rs 10 billion.
"We are actively in discussions with the governments of Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh for land to build our factory," said Aravind Mani, CEO, River Mobility, in an interview with the source. "We would need anywhere from 25 to 50 acres for a facility that can produce half a million units per year."
The company has already invested about Rs 2.5 billion in its R&D facility and leased factory in Bengaluru, which has a capacity of 100,000 units per year. The next significant investment will be the Rs 10 billion for a larger owned facility, for which it is exploring options in the southern states.
River Mobility has raised around $68 million over the last three years. The company has strong investors on board, including Japanese giants Yamaha, Toyota, Mitsui, and Marubeni.
"River is the first investment in India for Maniv Mobility, Trucks VC, Lower Carbon Capital, Toyota Ventures, Al-Futtaim Automotive, and Marubeni Ventures," Mani said while announcing the opening of the company's first retail outlet in Hyderabad.
(Soource: TOI)
Aravind Mani
River Mobility
EV
electric vehicle
Yamaha
Toyota
Mitsui
Maniv Mobility
Trucks VC
Lower Carbon Capital
Toyota Ventures
Al-Futtaim Automotive
Related Stories
Auto & Auto Components
TAGMA India Elects Executive Council for 2026–2029 Term
TAGMA India has elected its 2026–2029 Executive Council, with Devaraya Manjunath Sheregar as President and D Shanmugasundaram as Vice President, following its 35th AGM.
Read moreAuto & Auto Components
Abhijeet Dies & Tools, INEVO Form JV for Advanced Tooling in India
Abhijeet Dies & Tools and Italy’s INEVO have formed Abhinevo Technologies to develop and localise advanced mould, tooling and manufacturing technologies in India.
Read moreSmart Manufacturing
Ultraviolette Raises $85 Million to Scale EV Manufacturing and Expansion
Ultraviolette has raised $85 million to scale manufacturing, develop next-generation EV platforms and expand internationally, including a planned US entry in 2027.
Read moreRelated Products
Automotive Oil Pump
AUTO COMPONENTS & ACCESSORIES
Kalpak Auto Pvt Ltd offers a wide range of
automotive oil pump.
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
