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Swedish EV Maker Clean Motion Gears Up for India with $1 Million Investment and 'Make in India' Plans

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Swedish EV Maker Clean Motion Gears Up for India with $1 Million Investment and 'Make in India' Plans
11 Jun 2024
5 min read

News Synopsis

Swedish electric vehicle (EV) company Clean Motion AB is stepping up its India game with a $1 million seed funding infusion. This investment, secured through Finvolve, an initiative by India Accelerator, will fuel Clean Motion's ambitious plans to establish a manufacturing facility in Pune and become a major player in the Indian EV market.

Local Production and Global Ambitions:

Clean Motion, through its Indian subsidiary Clean Mobility Solution India Pvt. Ltd., aims to leverage India's robust manufacturing capabilities. The company plans to manufacture its flagship product, the Zbee, a three-wheeled passenger EV designed for first and last-mile connectivity, locally in India.

This locally produced Zbee will cater to the specific needs of the Indian market while also being positioned for global export.

Investment and Collaboration:

This investment signifies a strategic move for both parties. As Ashish Bhatia of Finvolve states, "India is poised to lead the charge of sustainable mobility at a global level." He emphasizes that India's manufacturing prowess aligns perfectly with Clean Motion's goals, and this investment will not only benefit the company but also contribute to a significant shift in the global EV market.

Beyond Manufacturing: Building Infrastructure

Clean Motion's vision extends beyond just manufacturing electric vehicles. The company plans to develop a robust charging infrastructure to support a fleet of Zbee vehicles. This network of operation clusters will feature designated parking spaces, plug-in chargers, and swappable battery stations, ensuring a seamless user experience.

Mutual Trust and Shared Goals:

Dr. Deb Mukherji of Clean Mobility Solution India Pvt. Ltd. expressed his appreciation for the trust placed in them by investors. He emphasized that the strategic allocation plan will not only help them scale their operations but also contribute to India's "Make in India" initiative and solidify its position as a leader in global urban mobility.

Strengthening International Ties:

Cecilia Oskarsson, Trade & Invest Commissioner of Sweden to India, sees this collaboration as a significant milestone in strengthening Swedish-Indian business ties. She highlights the potential of integrating Sweden's engineering and R&D expertise with India's manufacturing capabilities to usher in a new era of growth and sustainability in the EV sector.

A Long-Standing Partnership:

Clean Motion's foray into India began back in 2014 through the India-Sweden Innovations' Accelerator program. This program, focused on green transformation and resource optimization, laid the groundwork for the company's current expansion plans in the Indian market.

Conclusion

Clean Motion's $1 million investment in the Indian EV market represents a strategic move to leverage local manufacturing capabilities and contribute to the 'Make in India' initiative. With plans to produce the Zbee locally and develop a comprehensive EV charging infrastructure, Clean Motion is set to make a significant impact on India's sustainable mobility landscape.

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