In a significant move aimed at strengthening India’s electric vehicle (EV) ecosystem, Folks Motor has announced the successful first close of ₹100 crore for its ambitious ₹500 crore fund—”Folks Funds”—by the end of 2025. Touted as the country’s first ESG-aligned investment vehicle solely dedicated to EV supply chain development, this initiative is poised to play a pivotal role in transforming India’s mobility infrastructure and manufacturing base.
The new fund is more than just a financial venture—it is a statement of intent. With ESG (Environmental, Social, and Governance) principles at its core, the fund will directly support companies and innovations involved in creating sustainable, efficient, and locally produced EV components and technologies. Folks Motor aims to reduce India’s reliance on imports and foster a resilient, self-sufficient EV supply chain.
“Our goal is not only to boost domestic manufacturing but also to invest in long-term green jobs, infrastructure, and innovation that align with India’s climate commitments,” said a spokesperson from Folks Motor.
A flagship project under this fund is “The Blue IP”—India’s first EV-centric industrial and warehousing park located in Sonipat, Haryana. This facility is designed to serve as a dedicated hub for companies working in the EV domain, especially those focusing on xEV (electric, hybrid, and plug-in hybrid vehicles) technologies.
This park is expected to house facilities for advanced powertrain manufacturing, battery storage systems, energy management systems (EMS), and retrofitment solutions. By offering a unified ecosystem, Blue IP will reduce time-to-market and cut down fleet operation costs, contributing to better sustainability and faster adoption of EVs across the nation.
The Folks Funds will strategically invest in:
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Powertrain and propulsion systems tailored for EVs
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High-capacity, safe, and recyclable energy storage solutions
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Energy management systems to enhance operational efficiency
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Retrofitment technologies for converting ICE fleets into EVs
These investments aim to create a multiplier effect—not just accelerating EV production, but also nurturing allied industries including materials, electronics, logistics, and green mobility services.
With the first ₹100 crore already secured, Folks Motor plans to expand its geographical footprint into Telangana and Karnataka—two states already making strides in clean mobility policies and EV manufacturing. The company sees immense potential in these regions due to proactive government support and growing infrastructure.
A major thrust of the initiative is employment generation. As per estimates cited by the company, India’s EV sector has the potential to generate up to 5 million direct and 30 million indirect jobs by 2030. These include roles in manufacturing, supply chain management, R&D, software development, and EV maintenance.
With an eye on 2030, Folks Motor’s ₹500 crore vision is aligned with India’s broader national targets of achieving net-zero emissions and significantly increasing EV penetration across both public and private transportation sectors.
As EV adoption accelerates, the need for a robust domestic supply chain becomes paramount. Folks Motor’s fund arrives at a crucial moment—poised to not only bridge the infrastructure and manufacturing gap but also to catalyze a green industrial revolution in India.
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