Electric mobility is accelerating rapidly in India, and 3EV Industries is emerging as one of the most promising players in this transformation. The Bengaluru-based electric vehicle OEM has successfully raised INR 120 Cr (approximately $14.4 Mn) in a Series A funding round led by Mahanagar Gas Limited (MGL), with additional participation from Equentis Angel Fund and the Thackersey Group. This fresh capital injection marks a major milestone for the company as it strengthens its footprint in the fast-evolving EV ecosystem.
Founded in 2019, 3EV Industries focuses on designing, manufacturing, and operating electric vehicles for last-mile and hyper-local logistics—one of the fastest-growing segments in India’s transportation sector. The company plays a crucial role in enabling clean mobility for urban centers, offering efficient, durable, and cost-effective alternatives to traditional fossil-fuel-based vehicles.
Scaling Manufacturing to Meet Growing EV Demand
3EV plans to deploy the newly raised funds toward expanding its manufacturing capabilities, allowing it to significantly increase production capacity. As demand for electric three-wheelers rises across logistics, delivery, and passenger mobility sectors, the company aims to meet this surge with a stronger, more streamlined operational base.
Enhancing manufacturing infrastructure will also help the OEM in improving build quality, optimizing production timelines, and ensuring higher reliability for its growing fleet. This is especially critical as businesses increasingly adopt EVs for last-mile delivery to reduce costs and align with ESG goals.
Accelerating the Launch of the 3C Division
A major portion of the funding will also go toward fast-tracking the rollout of the company’s 3C division — Charging, Care, and Conversion. This division is designed to enhance the overall EV customer journey by offering:
- Charging: Accessible and efficient charging solutions
- Care: Strong after-sales service and maintenance capabilities
- Conversion: Tailored solutions that enable customers to shift seamlessly from ICE vehicles to EVs
According to 3EV managing director Peter Voelkner, this investment will help the company fortify its after-market support and develop financing solutions that remove barriers to EV adoption. With better service infrastructure and customer-centric offerings, 3EV aims to make switching to EVs easier than ever for businesses and urban mobility operators.
A Growing Portfolio of Electric Solutions
3EV currently offers seven vehicle models, including:
- Cargo vehicles
- Goods autos
- Passenger autos
- Urban-area-focused electric rickshaws
These vehicles are designed specifically for India’s bustling city environments, supporting sectors such as e-commerce delivery, retail supply chains, hyperlocal commerce, and passenger mobility.
Driving the Future of Clean Urban Logistics
With this funding, 3EV Industries is not only scaling its operations but also strengthening India’s position in the global EV landscape. As cities increasingly prioritize sustainability, the company is poised to play a pivotal role in powering the next phase of clean, efficient, and tech-driven urban logistics.
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