River Mobility is gearing up to invest in the automotive industry with a new INR 1,000 crore plant in Telangana, strategic expansions, and robust funding from global giants like Yamaha and Toyota.
Based in Bengaluru, the electric vehicle (EV) startup River Mobility Pvt Ltd is currently negotiating with multiple state governments to establish a new manufacturing facility. The company plans to invest approximately INR 1,000 crore to build a plant capable of producing 500,000 vehicles each year. River Mobility is exploring potential sites for this factory in the states of Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh, aiming to secure between 25 to 50 acres of land.
Aravind Mani, the CEO of River Mobility, mentioned that the company is actively engaged in discussions with the governments of Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh to acquire land for a facility capable of producing half a million units annually.
Previously, River Mobility invested around INR 250 crore into its research and development (R&D) and a leased manufacturing site in Bengaluru, which has a production capacity of 100,000 units per year. Now, the firm is looking to significantly expand its operations with a major investment targeted at a wholly-owned manufacturing base.
Over the past three years, River Mobility has raised about USD 68 million (approximately INR 575 crore) from reputable investors, including major Japanese corporations such as Yamaha, Toyota, Mitsui, and Marubeni.
Aravind Mani stated that River marks the initial investment in India from entities such as Maniv Mobility, Trucks VC, Lower Carbon Capital, Toyota Ventures, Al-Futtaim Automotive, and Marubeni Ventures. He also emphasized the opening of the company’s first retail outlet in Hyderabad.
