Clean Motion formally signed an agreement at the Swedish Embassy in New Delhi. Credits: Cleanmotion AB.

Swedish electric mobility company Clean Motion has announced plans to expand its operations in India.

Clean Motion has raised $1m in a seed funding round from India Accelerator-backed micro venture capital (VC) firm Finvolve. The company will utilise the funds to scale up its operations and expand its team size in the country.

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Clean Motion will also set up a dedicated manufacturing facility in Pune, Maharashtra. This represents an investment of $0.65m (SEK6.8m). It has also signed a licensing agreement for manufacturing and sales in India.

Clean Motion will produce its flagship three-wheeler passenger electric vehicle (EV) Zbee, which is designed to offer first and last-mile connectivity. The new facility will commence production in the fall of 2024 with plans to ramp up production capacity to 1,000 vehicles per month within the first three years.

Sofia Haby, CEO of Clean Motion said: “Manufacturing Zbee under a license agreement in India aligns perfectly with our global expansion strategy. We are leading the way for the future of the automotive industry, and Zbee, the most innovative three-wheeler on the Indian market, is no exception. We view this as an essential part of our comprehensive offering.”

Cecilia Oskarsson, trade & invest commissioner of Sweden to India said: “Today marks a significant milestone in strengthening Sweden and India’s business ties. Integrating Sweden’s engineering and R&D with India’s robust manufacturing capabilities will herald a new era of growth and sustainability in the EV sector. We are immensely proud to support this venture, confident that it will drive economic growth and environmental stewardship, leading the global transition to cleaner and more efficient transportation solutions.”

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