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2 clusters · 5 sources · 1 days · First seen 12 days ago · Last updated 11 days ago

Indian automotive and electric vehicle sector expansion

Overview

India is seeing significant industrial investment in the automotive and electric vehicle sectors. Mahindra & Mahindra is advancing a ₹15,000 crore expansion in Nagpur, Maharashtra, aiming to develop a 1,500-acre greenfield complex for internal-combustion, electric, and tractor production with a target capacity exceeding 6 lakh units annually by 2028.

In the energy and infrastructure space, Fujiyama Power System is expanding its lithium battery manufacturing capacity at its Ratlam plant in Madhya Pradesh by an additional 1 GWh.

Furthering the electric vehicle ecosystem, Magna International has committed an additional $35 million to the Bengaluru-based battery-swapping firm Yuma Energy. This investment focuses on supporting the gig economy by providing rapid battery swaps for electric two- and three-wheelers, aiming to maximize uptime for high-mileage delivery riders.

Entities

Muthu Subramanian · Yulu · Yuma Energy · Fujiyama Power System · Magna International

Timeline

11 days ago

[BUSINESS] 3 sources
Magna International invests $35M in Indian battery-swapping firm Yuma Energy
Magna International is investing an additional $35 million in Bengaluru-based Yuma Energy to expand its battery-swapping network for electric two- and three-wheelers in India's gig economy.
12 days ago

[BUSINESS] 2 sources
Mahindra and Fujiyama announce major Indian manufacturing expansions
Mahindra & Mahindra is investing ₹15,000 crore in a massive integrated manufacturing hub in Nagpur, while Fujiyama Power System expands lithium battery capacity in Ratlam.

Sources

autopunditz.com · electronicsb2b.com · fredzone.org · pv-magazine-india.com · techcrunch.com