Saturday, Sep 23, 2023
English News
  • Hyderabad
  • Telangana
  • AP News
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • Rewind
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Education Today
    • Reviews
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Gmw Receives 50 Million Investment Commitment

GMW receives $50 million investment commitment

GMW is the largest exporter of electric 3Ws (or e-tuktuks) from India, with presence in UK, France, Portugal, Japan, Uganda, Nepal and Bangladesh.

By Telangana Today
Published Date - 07:19 PM, Thu - 1 April 21
GMW receives $50 million investment commitment
whatsapp facebook twitter telegram

Hyderabad: Hyderabad-based Gayam Motor Works (GMW) announced a $50 million (over Rs 360 crore) investment commitment from Luxembourg-based GEM Global Yield as the company plans to go public.

The commitment will be made available on the first day of trading or in tranches to be drawn at the company’s option over a three-year period.

GMW is the largest exporter of electric 3Ws (or e-tuktuks) from India, with presence in UK, France, Portugal, Japan, Uganda, Nepal and Bangladesh. GMW’s SmartAuto is the first Indian e-3W to be European certified, and is also the first e-3W to be designed with a modular battery swapping system.

The combined value of 3Ws and 3W refueling markets is estimated at $32 billion. Several developing countries have a high rate of usage of three-wheelers, which were traditionally powered by IC engines. These markets are now looking at electric 3Ws as the future of intra-city mobility.

“This agreement with GEM is a validation of our position as a market leader in the affordable e-mobility space. We have indigenously designed a robust powertrain with proprietary battery swapping technology. Some of the global automobile majors are exploring technology partnerships with us to co-develop affordable mobility solutions,” said GMW’s CEO Raja Gayam.

GMW’s also plans to get into the production of electric 4W trucks to follow from next year, which will have longer range and larger volume. The vehicle will likely be designed with the same battery interface of their SmartAuto for swift battery swapping across multiple vehicle types.


Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .


Telangana Today Whatsapp
  • Follow Us :
  • Tags
  • $50 million investment
  • Gayam Motor Works (GMW)
  • GEM Global Yield
  • GMW’s SmartAuto

Related News

  • Biliti Electric gets financing nod from SIDBI

    Biliti Electric gets financing nod from SIDBI

  • Indian woman-led deep tech startup Instoried secures $200 mn

    Indian woman-led deep tech startup Instoried secures $200 mn

Latest News

  • DUSU Elections 2023: ABVP wins three seats, NSUI bags Vice President post

    4 seconds ago
  • Aamir Khan donates Rs 25 lakh towards Himachal Pradesh state disaster relief fund

    2 mins ago
  • Focus on Praggnanandhaa as India begins campaign in chess at Asian Games

    5 mins ago
  • Investing in credit cooperative societies turns risky in Mancherial

    6 mins ago
  • Manal clinches U-17 girl’s singles title at DRS International School Tennis Tournament

    9 mins ago
  • Kamats Restaurants partners with IDFC First Bank for FASTag registration and recharge

    9 mins ago
  • Preparations in full swing for Ranchi-Howrah Vande Bharat’s inaugural run

    13 mins ago
  • Shark Tank India season 3 shooting begins

    13 mins ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam