“We are actively discussing with govts of Telangana, Tamil Nadu, Karnataka and Andhra Pradesh for land where we can construct our own factory. We would need anywhere from 25 to 50 acres for a facility that can churn out half a million units per year,” said Aravind Mani, CEO of River Mobility.
River Mobility has already invested approximately INR 250 crore in its R&D facility and leased factory in Bengaluru. This current facility has a production capacity of 1 lakh units per year. The next significant investment is planned to be INR 1,000 crore for the larger, owned facility.
The company has secured around USD 68 million (approx. INR 575 crore) over the last three years from strong investors, including prominent Japanese companies such as Yamaha, Toyota, Mitsui, and Marubeni.
“River is the first investment in India for Maniv Mobility, Trucks VC, Lower Carbon Capital, Toyota Ventures, Al-Futtaim Automotive and Marubeni Ventures,” Mani stated. He also announced the opening of the company’s first retail outlet in Hyderabad.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
