Bengaluru-based electric two-wheeler maker River has raised $40 million in Series B funding led by Yamaha Motor Co. The funds will be used to ramp up production, expand the distribution network, and launch a second product within two years. River s first product, Indie, has received positive customer response and the company plans to increase volumes and expand to 10 cities by the end of this fiscal year.
River Two Wheeler Funding: Bengaluru-based electric two-wheeler maker River has raised USD 40 million in Series B funding led by Yamaha Motor Co. The funds will be used to ramp up production, expand the distribution network, and launch a second product within two years. River s first product, Indie, has received positive customer response and the company plans to increase volumes and expand to 10 cities by the end of this fiscal year.
The interim budget did not mention an extension of the FAME subsidy, leaving EV makers uncertain about the future of the FAME II scheme. While the government s emphasis on wider adoption of electric public transport and expanding charging infrastructure is positive, clarity on subsidies, taxation, and details of new schemes is needed. The sector also faces challenges such as the need for ample parking space and safe charging points for light electric vehicle charging.