Wednesday, May 22, 2024
HomeNEWSINTERNATIONALYamaha invests in Indian EV firm

Yamaha invests in Indian EV firm

Confusion over the role of battery power in mainstream motorcycling continues. But firms like Yamaha seem to be hedging their bets, investing in a variety of different possible technologies with an eye on the future. So, the tuning-fork brand has announced a new investment in World of River, a startup that manufactures and sells electric scooters in India. The investment is for River’s Series B round of funding through a third-party allotment.

In India, the world’s largest market for electric two-wheelers, River has established River Mobility Private Limited in Bengaluru as a group company that offers electric scooters.

According to Yamaha, the Indian government is supporting moves to electrification to combat environmental issues as well as to promote domestic manufacturing, and the Japanese firm reckons the market for electric two-wheelers is growing rapidly. Yamaha Motor Group’s environmental plan 2050 has set a goal of reducing CO₂ emissions from its products by 90% by 2050 compared to 2010. The River investment is aimed at helping achieve this goal.

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