E-vehicle maker Clean Motion to invest $10 million in India.

Sweden-based electric vehicle maker Clean Motion plans to invest USD 10 million (about Rs. 66 crore) in India over the next three years to expand operations including setting up of an assembly unit for its Zbee three- wheelers in the country.

The company, which runs its electric three-wheeler Zbee in Gurgaon's DLF Cyber City, aims to provide last-mile connectivity in India's congested urban areas and is talking to mall developers in Bengaluru and Mumbai as well as SEZ operators in Hyderabad.

Besides, it is also targeting tourist spots like Taj Mahal to operate its fleet of electric three-wheelers, which are positioned as a premium product unlike e-rickshaws.

We plan to invest USD 10 million over the next three years. At the end of the third year, we expect to have a fleet of around 2,000 vehicles cumulatively,' Clean Motion Country Head Anil Arora told PTI.

As a startup, the company has already seeded $1 million in the project, he added.

'Our product is powered by lithium ion batteries with design and looks targeting at the premium segment. Not only through fares, we are also looking at advertising on Zbee as a second revenue stream,' he said.

Elaborating on the company's expansion plans in India, he said: 'We aim to be present in all the places where there is requirement for last mile connectivity. Whether its malls, metros or tourist places we are going to be there.'

ET