Gayam Motor Works (GMW) today announced a $ 50 million investment commitment from Luxembourg firm GEM Global Yield LLC SCS (“GEM”) in consideration of the company’s intention to become a publicly owned company. Such investment will be made available on the first trading day or in tranches issued at the company’s discretion over a three year period. With the certainty of the investment at listing, GMW is now equipped with the necessary premises to realize its vision of accelerating the world’s transition towards intelligent and sustainable mobility.
GMW is a pioneer in the electric mobility sector in India, as well as the largest exporter of three-wheeled (3W) electric vehicles (also called e-tuktuk) from India and is present in the United Kingdom, France, Portugal, Japan, Uganda, Nepal and Bangladesh.
