EV companies raised $666 million from PE/VCs in 2022
EV sector in India attracted $1.7 billion from the PE/VC investors in India. This amount has reached $ 666 million in 2022 so far. In terms of investments, EV industry has attracted $6 billion in 2021 and is expected to gain $20 billion by 2030. EV market has observed strong attention from PE/VC investors in India with investments increasing from $ 181 million to $ 1,718 million (recording an annual growth rate of 849%). According to a report titled 'Electrifying Indian Mobility' prepared by Indian Venture and Alternate Capital Association(IVCA), India's apex body representing the interests of PE/VC industry, in collaboration with EY and IndusLaw. In the last 2 years, there haves been investments to the tune of $550million, a huge increase from the funding received in 2019 ($390 million), in EV manufacturers like OLA Electric, EULER, Ather Energy for the development of newer and safer electric vehicles. The technology is still in a nascent stage, and there is a lot of dev...