Jindal Mobilitric, a subsidiary of Jindal Worldwide, announced the acquisition of Earth Energy EV, a Mumbai-based EV startup. This acquisition marks Jindal Worldwide’s entry into the electric vehicle market in India. Financial details are still to be revealed.
Rushi Senghani, CEO and founder, of Earth Energy, said “We are very happy to work with Jindal Mobilitric. Our vehicles have been put through 700,000 testing hours and the confidence shown in us is commendable as we work together to build the Indian EV infrastructure that is a reliable and efficient modern scooter that is made for the modern commuter.”
Gaurav Davda, spokesperson on behalf of Jindal Mobilitric said “Electric is the future of travel and we are happy to announce our foray into the electric vehicle segment. This acquisition will ensure that we make a strong start in our EV foray.”
Jindal Worldwide has also announced that Jindal Mobilitric is establishing a new manufacturing facility in Ahmedabad, Gujarat. The new plant will be added to the existing Earth Energy manufacturing plant in Maharashtra.
Earth Energy EV was founded in 2017 for creating electric vehicles made in India for the world. Over the years the company has grown to become a 98% localized EV Manufacturer-backed by a team of young talented individuals focused on designing, engineering and producing mobility for the masses.