Lectrix EV plans to raise $100 million to fund next phase of growth

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Lectrix EV, the e-mobility arm of SAR Group, plans to raise around USD 100 million (over Rs 800 crore) from external sources next year to fund its next phase of growth, according to founder Rakesh Malhotra.

"I would say we are within 12 months from raising a sizable round of capital (outside)," Malhotra told PTI in an interaction.

When asked to elaborate, he noted that the company could raise around USD 100 million.

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Category: BusinessFinance

Markets: India

Topics: Funding EVs Electric vehicles Lectrix EV E-scooters EV in India

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 16:58:27 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 327 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 24091228

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