Electrodrive Powertrain Solution or Electra EV, an electric mobility startup owned and promoted by industrialist Ratan Tata, has raised about USD 25 million in investment from GEF Capital Partners.
Set up in 2017, Electra EV designs and develops, integrates, manufactures, and supplies EV powertrains systems across passenger and commercial vehicle segments.
Its offerings are end-to-end powertrain solutions - supplying full systems including battery packs, e-traction systems, and integrated electronics, sub-systems, and components across multiple segments like two and three-wheelers, four-wheelers and EV applications in agriculture and off-highway segments.
According to a statement on Thursday, Electra EV will utilize the raised capital for expanding its product portfolio across e3 Wheelers, e4 Wheelers, agricultural applications, and other EV segments to serve both domestic and international manufacturers.
The Company plans to further enhance its design, testing, and prototyping capabilities and expand the production capacity to support growing volumes, the statement said.
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