Earth Energy EV startup raises seed funding to launch 3 EVs
A Delhi based EV startup Earth Energy EV has announced that it has raised seed funding, led by LR Joshi, MD or Pranada Bio-Pharma Pvt Ltd. The EV startup has not disclosed the amount of the funding. The company claims that this funded amount will be used to facilitate the launch of three electric vehicles, which are currently under the on-road trial phase for the last 2.5 years.
Earth Energy EV startup
The company said that it has earlier raised investments from private investors and has been part of the SmartCity Dubai Accelerator Programme in 2018.
Rushi Shenghani, Founder of Earth Energy Electric Vehicle, said, “It’s remarkable to have the support of our investors as we look to grow the company and disrupt the electric vehicles market. The vehicles we are launching in the market are 96% localized and in the true essence marks the Make in India initiative put forth by the government. The investment will be used to hire critical talent, strengthen the sales network, and make the vehicles production-ready via enhanced OEM relations and strong supply chain.”
The company’s founder says that its products will be 96% localized and marks its steps in the market with the Make in India products. The investment will be used to hire the talent personnel, to strengthen the sales network and make the products production-ready by the OEM relations and strong supply chain.
“The Vehicles to be launched in the last quarter of this year will be in the High-Speed 2W & Commercial Vehicles Category. We will offer lucrative pricing & buying options to the customers for making the transition to EVs easy and comfortable”, he added.
Earth Energy EV was founded in late 2017 by Rushi Shenghani and its headquarter is in Mumbai. It operates under a Grushie Energy, a parent company based in Dubai.
If you are an EV manufacturer or EV Dealer or EV Supporter who want to share news related to electric vehicles on our website, please send an email to email@example.com