Key Highlights:
- River Mobility to Invest INR 1,000 Cr for a new Manufacturing Plant
- Aims to manufacture 5 lakh units annually
- In talks with Govt. of several states for setting up the Manufacturing Plant
- Company’s first retail outlet to be situated in Hyderabad
Bangalore-based EV startup River Mobility Pvt Ltd. is in plans to further expand its manufacturing portfolio, for which the electric two-wheel company is in discussions with several states. The startup is exploring the possibilities with states like Tamil Nadu, Karnataka, Telangana and Andhra Pradesh to set up the brand’s second manufacturing facility, aiming at a total capacity of 5 lakh units per annum.
Arvind Mani, CEO of River Mobility has stated, We are in continuous talks with the government of Tamil Nadu, Karnataka, Telangana and Andhra Pradesh to discover the adequate land area for the construction of a new manufacturing plant. He further added, We would need anywhere from 25 to 50 acres for a facility that is capable of rolling out half a million units per year in future.
River Mobility has already invested around INR 250 crore in its R&D center and leased factory in Bengaluru, which currently accommodates a production capacity of 100,000 units per year. The next major investment, amounting to Rs 1,000 crore, is intended for a larger, company-owned facility.
As per the reports, over the past three years, the company has raised about USD 68 million (around Rs 575 crore) from major investors, including well-known Japanese companies like Yamaha, Toyota, Mitsui and Marubeni.
Mani mentioned that River is the first Indian investment for Maniv Mobility, Trucks VC, Lower Carbon Capital, Toyota Ventures, Al-Futtaim Automotive and Marubeni Ventures.
He concluded by announcing the launch of the company's first retail outlet in Hyderabad.
Currently, River Mobility only offers a sole model, which is named Indie. The Indie features a single ‘Standard’ variant, priced at Rs 1.38 lakh (ex-showroom). This model draws power from a 6.7 kWh Li-Ion battery pack, driving on a Mid-Drive PMSM single electric motor, which delivers a range of 120 Kmph on a single charge.
Battery Capacity | Variant (Sole) | Range (ARAI) | Price (ex-showroom) |
6.7 kWh | Standard | 120 Kmph | 1.38 lakh |
The Verdict:
River Mobility, currently offering a single model, the Indie, is committed to long-term growth with plans for two manufacturing plants. This indicates their strategy to not only boost Indie's sales but also introduce more products, contributing to sustainable mobility in India. The opening of their first retail store in Hyderabad, despite being a Bangalore-based startup, highlights their expansion plans. CEO Mani’s announcement about the retail store confirms that Indie deliveries will begin soon, marking a significant milestone in the Indian two-wheel EV industry.