“This capital will help us accelerate innovation and further strengthen our product pipeline,” said MD Vikas Singh.
The capital infusion is aimed at strengthening GEML’s next phase of growth towards building Next Generation products, Battery Management Systems, Power Trains and New Age Technology development. “As India’s electric mobility market moves towards mass adoption, we remain focused on supporting the country’s clean mobility goals through differentiated products Built for Bharat, stronger technology capabilities and reliable mobility solutions for our customers.” He added.
GEML has decided to defer its proposed public listing, opting not to avail itself of Sebi’s extension for the offer. The company said it remains committed to pursuing the listing at an appropriate time, subject to market conditions, regulatory approvals and other relevant considerations.The company also has a longstanding association with the Indian armed forces, with its products supporting a range of defence and naval applications.Through this latest investment, the company aims to accelerate performance of its electric two-wheeler and three-wheeler segments with a growing portfolio of products, an expanding retail and service network, and continued investments in engineering, manufacturing and customer experience.
