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EeVe India aims ₹100-crore fundraising via debt, equity

Our Bureau Bengaluru | Updated on May 04, 2021

E-vehicle firm to sell 80,000 vehicles

Electric vehicle maker EeVe India plans to raise ₹100 crore for product development through a combination of debt and equity.

Lithium-ion battery

Harsh Didwania, Director and co-founder of EeVe, told BusinessLine that during the fiscal, the company plans to sell 80,000 vehicles through 300 dealers across the country. “We have already started working on our own set up to manufacture Lithium-ion battery. We have also shortlisted our Indian supplier and the work is under way,” he said.

The company, which has received the ICAT (International Centre for Automotive Technology) certification, has scooters that have a range of 50-60 km. “Our strength lies in the kind of range and the number of features that our models have even though we are just a year old,” Didwania said.

‘Low maintenance’

He also pointed out that the removable batteries are no longer a drawback but are in fact very beneficial. With low maintenance, higher energy density, lower self-discharge rate, a Lithium-ion battery is the preferred choice for customers these days, he said. Didwania said most of the lithium-ion batteries are damage proof with the outer cover made of aluminium which is fire-proof.

He also said the company’s vehicles have been designed in such a way that they are as easy to charge as mobile phones and are equipped with a two-pin charger.

Published on May 04, 2021

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