Jindal Mobilitric Private Ltd, a subsidiary of Jindal Worldwide Limited on Thursday acquired the Mumbai-based startup Earth Energy EV. Through this acquisition, Jindal Mobilitric will take over the indigenously developed technology platform and the startup’s Glyde SX, Glyde SX+ variants of commuter scooter along with the Evolve R, Evolve S commuter and cruiser motorcycles, said the company in a statement.
Jindal Mobilitric will set up a manufacturing plant in Ahmedabad which will supplement the existing Earth Energy manufacturing facility in Maharashtra. With an aim to strengthen the distribution market, Jindal Mobilitric will increase the touchpoints while also retaining Earth Energy’s distributors across 10 states in India, including Maharashtra, Gujarat, Karnataka, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Chhattisgarh, Madhya Pradesh and Orissa.
Incepted in 2017, Earth Energy operates under its parent company Grushi Energy Pvt Ltd and focuses on the development of electric motorcycles, scooters, & autonomous vehicle drivetrains. The startup said its vehicles are compliant with all public charging stations being set up by both government and private players. The startup claims to have 96% localisation in manufacturing.
Rushii Senghani, CEO and Founder of Earth Energy, said “We are confident with the way the Glyde SX & SX+ variants have performed. Our vehicles have been put through 7 lakh testing hours and the confidence shown in us is commendable as we work together to build the Indian EV infrastructure that is a reliable and efficient modern scooter that is made for the modern commuter.”
Gaurav Davda, Jindal Mobilitric Pvt Ltd said, “Electric is the future of travel and we are happy to announce our foray into the Electric Vehicle segment. This acquisition will ensure that we make a strong start in our EV foray. Earth Energy’s team is innovative and bright and we are happy to be working with this talented team.” Jindal Worldwide manufactures and exports denim, home textile, specialized fabric, technical fabric and intermediates.