UK's British International Investment Eyes USD 300 Million Expansion in Indian EV Ecosystem

British International Investment, UK's development finance institution, plans to invest another USD 300 million in the Indian electric vehicles ecosystem over the next three years. Having already invested USD 300 million in companies such as Mahindra's EV arm, Euler Motors, Turno, and Battery Smart, BII foresees significant growth in India's EV penetration.

British International Investment, the development finance institution of the UK, is ramping up its commitment to India's electric vehicle (EV) sector with a projected USD 300 million investment over the next three years. This announcement was made by Abhinav Sinha, MD and Head of Technology & Telecoms.

Already, BII has funneled around USD 300 million into the Indian EV landscape, supporting notable entities like Mahindra's EV division, Euler Motors, Turno, and Battery Smart. Sinha remarked on India's burgeoning auto market, highlighting its current 6% EV penetration and the potential for rapid growth, potentially outpacing Europe's and the US's progress.

Sinha emphasized BII's focus on early-stage investments, expecting the sector to witness significant expansion, particularly with government incentives and cost-effectiveness driving adoption. BII aims to extend its investments into EV manufacturing, components, and financing within India.

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