Simple Energy raises INR 250 crore, plans family scooter launch
Bengaluru-based electric two-wheeler maker Simple Energy has raised INR 250 crore in a mix of debt and equity funding as it prepares to expand production and launch a family electric….
Category: Finance
Globally, electric vehicle finance is growing rapidly. In 2022, the market size was USD 28bn and is expected to reach USD 100bn by 2030. The main factors driving the growth of the market are government incentives, increasing environmental awareness, and declining battery prices.
Kia India risks exclusion from PLI scheme without FY26 investment
Kia India must invest ₹1,400 crore (US$16.38m) in FY26 to stay eligible for the ₹25,938 crore (US$303.5m) production-linked incentive (PLI) scheme for advanced automotive technologies, according to a senior government….
DLL, IRU partner for low-emission fleet transition
Netherlands-based asset finance firm DLL has partnered with Switzerland-based IRU, the global road transport organisation, to support the shift to low-emission vehicle fleets, according to a 28 March press release….
Denmark’s IFU lends US$12.5m to Ecofy for EV, solar finance in India
Ecofy Finance, a green-focused NBFC based in India, has secured a US$12.5m long-term loan from Denmark’s state-owned development finance institution, the Investment Fund for Developing Countries (IFU), according to a….
ADB lends US$150m to Shriram Finance for MSME, EV funding
Multilateral lender Asian Development Bank (ADB) has signed a US$150m loan deal with India-based Shriram Finance to fund micro, small and medium-sized enterprises (MSMEs), electric vehicles, and low-emission commercial vehicles,….
PULSETRAIN raises E6.1m seed funding for integrated EV batteries
Germany-based battery tech company PULSETRAIN has raised E6.1m (US$6.60m) in seed funding from Vsquared Ventures, Planet A (Berlin VC focused on climate tech), and Climate Club (early-stage climate fund), according….
NIO’s repurchase right notification for convertible senior notes
SHANGHAI, 4 January 2024: NIO Inc, a pioneer in premium smart electric vehicles, has revealed a significant update regarding its 0.00% Convertible Senior Notes due 2026. This announcement encompasses essential….
Aypa Power secures $550M for utility-scale energy storage projects
CANADA, 13 November 2023: Aypa Power, a prominent independent power producer (IPP) specializing in energy storage and hybrid renewable projects, backed by Blackstone, has successfully closed a significant USD 550m….
Spring Free EV now introduces Residual Capital: Revolutionizing EV financing
SAN FRANCISCO, 31 October 2023: In a significant stride towards accelerating the adoption of electric vehicles (EVs), Spring Free EV, a trailblazer in sustainable transportation, has introduced an innovative financing….
Epsilon now invests $650M in EV battery manufacturing plant in North Carolina
BOLIVIA, 27 October 2023: Epsilon Advanced Materials (EAM), India’s prominent battery materials company, is making a historic foray into the US electric vehicle (EV) market. In collaboration with North Carolina….