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BII to invest USD 300-mln over three years, EV as focus area

Monday, 24 Jun 2024
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UK's development finance institution, British International Investment (BII) expects to invest another USD 300 million over the next three years. With the Indian electric vehicles (EV) ecosystem as a focus area, the company has already invested around USD 300 million in the domestic EV sector. It sees further investment opportunities in EV manufacturing, and related segments.

By 2030, the company anticipates higher EV penetration in public transportation in India, and expects traction on the passenger (electric) cars, as more and more people adopt it. It has also made investments in Euler Motors, a commercial EV manufacturer,  and Turno, which is an EV distribution and financing for small businesses and individuals, and also in Battery Smart, a battery-swapping network.

Strategy wise, it will focus on earlier stage investment, where the typical size  would be in the range of USD five million to USD 10 million, and would be followed by another investment. 

So, it will continue investing in the manufacturing side and will extend its interest in components and financing, as also across the entire value chain.

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