IfC announces a capital investment of 20 million US dollars in transvolt mobility

New -Delhi [India]July 18 (ani): In order to improve access to high -quality urban means of transport, scaling the production of electric vehicles (electric vehicles) and strengthening the IFC ecosystem in India, IFC provides an equity investment for the transfer of mobility private Limited (transvolt) ready.

This is the first stock investment of IFC in an EV platform in India and global. It will make it possible to scale the portfolio of the electrical fleet to 3,500 vehicles and to create 8,200 jobs in the next five years. It will also support the company's long -term goal of using 8,000 heavy commercial electric vehicles such as buses and trucks across India.

Dheeraj Jhawar, director and co-founder of Transvolt Mobility, said: “We are enthusiastic about the Trust IFC in our company to develop and use EV fleets all over India. This investment strengthens our determination to build up a scalable, sustainable commercial EV platform.

The Debase Mohany, CEO and co-founder Transvolt Mobility added: “Transvolt is India's first integrated and OEM-ABTIC-EV platform that has and operates electric buses and trucks for customers of the state and private sector. Transport goals are aligned. “

India's ambitious move towards clean mobility aims to electrify 800,000 buses, replace 10 percent of the diesel trucks with 400,000 electric trucks and to achieve an electrification of small commercial vehicles (SCVs) 18 percent by using 111,000 E-SCVs. This transition offers the option of investing in scalable EV solutions in public and private fleets and mobilizing an estimated $ 200 billion in order to achieve the destinations of the country.

Vikram Kumar, regional industry of the IFC for infrastructure and natural resources in Asia and in the Pacific, said: “India's transition to sustainable transportation depends on scalable solutions, and this investment uses the private sector innovation and technological advances to promote sustainable transport and the balance between the excess Reinforcement amplifiers.

Imad n Fakhoury, regional director of IFC for South Asia, said: “The acceleration of urban mobility and connectivity in the last mile is of crucial importance for India's development goals. Our investment in Transvolt will drive the introduction of EVS, especially buses, since it will remain the preferred and affordable means of transport in all of India.

As the first stock investment of IFC in an EV platform in the country and worldwide, this increases our commitment to the EV roadmap in India, supports the country's transitional goals, enables the creation of jobs and contributes to long-term economic growth. Solutions from the private sector of IFC such as e-mobility are the key to the approach of the World Bank Group to support the Indian transformation agenda of India. “

With 500 strong commercial electric vehicles that have been used since its foundation in 2023, Transvolt has set a strong presence in various business areas such as municipal companies, transport companies for companies and transport companies for leading cement manufacturers.

IFC – a member of the World Bank Group – is the largest global development institute that focuses on the private sector in emerging countries. (Ani)

(This content is obtained from a syndicated feed and published as received. The tribune assumes no responsibility or liability for its correctness, completeness or content.)