Clean Motion charges into India's EV market with $1 million investment and Make in India plans

Clean Motion AB, a Swedish sustainable mobility company, is accelerating its expansion into the Indian electric vehicle (EV) market with a $1 million seed fund investment. The investment, secured through India Accelerator's Finvolve initiative, will fuel the establishment of a dedicated manufacturing facility in Pune and bolster the company's presence in the region.

Clean Motion, through its Indian subsidiary Clean Mobility Solution India Pvt. Ltd., plans to leverage India's manufacturing prowess to produce its flagship product, the Zbee, locally. This three-wheeled passenger EV, designed for first and last-mile connectivity, will be tailored for the Indian market and positioned for global export.

"India is making impressive strides in the EV space and is poised to lead the charge of sustainable mobility at a global level," said Ashish Bhatia of Finvolve. "It is our strategic investment in the EV space, and we are confident that India’s favourable manufacturing environment will provide an impetus for growth to Clean India, bringing about a significant shift in the global EV market."

The company's plans extend beyond manufacturing, encompassing the development of a robust EV charging infrastructure. This network of operation clusters will feature parking, plug-in chargers, and swappable batteries to support a fleet of Zbee vehicles.

"We appreciate the trust that India Accelerator, Finvolve and other prestigious investors have put in our company’s capabilities," said Dr. Deb Mukherji of Clean Mobility Solution India Pvt. Ltd. "Our strategic allocation plan will help us scale our operations, focused on strengthening the country’s ‘Make in India’ efforts and solidifying its position as a leader in the global urban mobility transportation space."

“Today marks a significant milestone in strengthening Sweden and India’s business ties. Integrating Sweden's engineering and R&D with India’s robust manufacturing capabilities will herald a new era of growth and sustainability in the EV sector," said Cecilia Oskarsson, Trade & Invest Commissioner of Sweden to India. "We are immensely proud to support this venture, confident that it will drive economic growth and environmental stewardship, leading the global transition to cleaner and more efficient transportation solutions."

Clean Motion's entry into India dates back to 2014 through the India-Sweden Innovations’ Accelerator program. This initiative, focused on green transformation and resource optimisation in India, provided the foundation for the company's current expansion.