Latest news with #Transvolt
News18
5 days ago
- Automotive
- News18
IFC commits USD 20 mn equity investment in Transvolt Mobility
New Delhi, Jul 18 (PTI) IFC, a member of the World Bank Group, on Friday said it is providing USD 20 million (about Rs 170 crore) equity investment to Transvolt Mobility Pvt Ltd to scale up electric vehicles (EVs) production. IFC's USD 20 million investment to Transvolt is a part of the company's USD 50 million financing round, the World Bank arm that provides funds for private sector development in emerging markets said in a statement. 'This is IFC's first equity investment in an EV platform in India and globally. It will enable Transvolt to scale its electric fleet portfolio to 3,500 vehicles and create 8,200 jobs in the next five years. It will also support the company's long-term goal of deploying 8,000 heavy commercial EVs such as buses and trucks across India," it said. 'Transvolt has been a key partner of IFC, and through our collaboration, we aim to enhance market competitiveness in the sector by enabling the electrification of public and private fleets operated by municipalities and corporations, demonstrating the commercial viability of electric fleets, and expanding access to quality urban transport," IFC's Regional Industry Director (Infrastructure & Natural Resources) Asia-Pacific Vikram Kumar said. With IFC's support, the company aims to accelerate the transition to sustainable transport and build inclusive solutions that are aligned with national and global sustainability goals, Transvolt Mobility director and co-founder Dheeraj Jhawar said. This transition presents an opportunity to invest in scalable EV solutions across public and private fleets and mobilise an estimated USD 200 billion to meet the country's targets, it said. With 500 heavy commercial EVs already deployed since its inception in FY23, Transvolt has established a strong presence across various business segments like municipal corporations, corporate employee transportation, and haulage for leading cement manufacturers. PTI DP TRB view comments First Published: July 18, 2025, 11:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
5 days ago
- Automotive
- Time of India
IFC makes first ever equity investment in EV fleet platform
International Finance Corporation ( IFC ) will provide $20 million equity investment in Transvolt Mobility, marking its first such move in an electric vehicle (EV) fleet platform. This is part of IFCs $50 million financing round. Explore courses from Top Institutes in Select a Course Category PGDM MBA Artificial Intelligence Leadership Data Science healthcare Data Science Healthcare Degree Finance CXO Product Management Public Policy Digital Marketing Project Management Design Thinking Operations Management Others Technology Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details According to IFC, the investment will enable Transvolt to scale its electric fleet portfolio to 3,500 vehicles and create 8,200 jobs in the next five years. It will also support the company's long-term goal of deploying 8,000 heavy commercial EVs such as buses and trucks across India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Imad N Fakhoury, IFC's Regional Director for South Asia said accelerating urban mobility and last-mile connectivity is critical to India's development goals. 'As IFC's first-ever equity investment in an EV platform, in the country and globally, it reinforces our commitment to India's EV roadmap, supports the country's transition goals, enables job creation, while contributing to long-term economic growth,' he said. IFC said Transvolt has 500 heavy commercial EVs deployed since its inception in FY 2023. The company has presence across municipal corporations, corporate employee transportation, and haulage for cement manufacturers. Live Events India's ambitious push toward clean mobility aims to electrify 800,000 buses, replace 10 percent of diesel trucks with 400,000 electric trucks, and achieve 18 percent electrification of small commercial vehicles (SCVs) by deploying 111,000 e-SCVs. According to IFC, this transition presents an opportunity to invest in scalable EV solutions across public and private fleets and mobilize an estimated $200 billion to meet the country's targets.
