PEs And VCs To Invest $1.7 Billion In EV sector in 2021

An estimated $1.7 billion was invested by both private equity as well as venture capitalists within the Indian electric vehicle (EV) industry by 2021, according to the Indian Private Equity and Venture Capital Association ( IVCA) in a recent report. 

Based on the report, IVCA Vice President Rajat Tandon said that a total of $1.7 billion was put into private equity funds as well as venture capitalists working in the Indian sector for EVs, and by 2022, the total investment is estimated to be $66 million thus up to now. It is also reported that the IVCA additionally announced the report 'Electrifying Indian Mobility' in partnership with EY and IndusLaw which estimates the Indian EV industry will generate more than 10 million direct jobs and fifty million indirect job opportunities in 2030.

A large number of first-time and new investors are joining in the wave. But, experts believe that there is an urgent need for the federal investors and the general public to work together toward sustainable solutions.

In the words of Srihari Mulgund, the New Age Mobility Partners, EY-Parthenon, electrification of Indian mobility offers a unique chance to reinvent what the future holds for the Indian automobile sector. Technology will be the key to a successful transformation and with technology growing faster than ever and the industry must take multiple risks to stay alive and expand during this change. Therefore, capital is an essential tool when we begin the journey of electrifying the mobility of our citizens, Mulgund said.