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Yamaha Motor fuels River's ambitious electric SUV two-wheeler rollout in India

River, an Indian startup manufacturing electric two-wheelers, has raised $40 million in a funding round led by Japan's Yamaha Motor as the nearly three-year-old startup looks to increase R&D spending and expand the market presence of its first electric 'SUV' two-wheeler in India. The all-equity Series B round also saw participation from startup's existing investors, including Al Futtaim Automotive, Lowercarbon Capital, Toyota Ventures, Trucks VC and Maniv Mobility. Since its founding in March 2021, River has focused on developing and producing electric two-wheelers for Indian customers, a burgeoning and rapidly evolving market in a country keen to replace diesel and gas-powered vehicles with EVs. ....

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India's electric two-wheeler sales hit a speed bump

India's subsidy reductions has put the brakes on electric scooter sales, derailing the nation's ambitious plans for a thriving EV market. ....

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India's electric two-wheeler sales hit a speed bump

In India’s bustling streets, where two-wheelers are seen as the primary mode of transportation, a powerful shift toward electrification is happening. Electric scooter sales have taken a hit, and the blame falls squarely on the recent reduction of government subsidies. In May, the Indian government revised its incentive scheme called Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles, commonly called FAME-II, and reduced subsidies to $122 (10,000 Indian rupees) per kWh of battery capacity, with a maximum cap of 15% of the ex-factory vehicle price. ....

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India Digest: Lentra, 2070 Health, River secure funding

Fintech firm Lentra has raised $27 million in an extended Series B round, while two-wheeler EV startup River has bagged $15 million. ....

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Dubai's Al Futtaim Group makes debut India bet with EV maker River

Homegrown electric vehicle manufacturer River on Wednesday said it has raised $15 million (Rs 123 crore) in a funding round led by Dubai-based multinational powerhouse .. ....

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