A Qatar-based conglomerate has made its first investment in a private company by backing domestic electric two-wheeler startup Kabira Mobility with $50 million (roughly Rs 410 crore).
The corpus will be used to expand the factory’s production capabilities at the Karnataka plant in Dharwad, as per reported by BW Disrupt.
“Our relentless focus on research and development for the past five years on powertrain and technology development has paved the way for Kabira Mobility and will enable us to capture almost 30% of the electric bike segment and emerge as an industry leader in the next two years,” said Jaibir Siwach, CEO of Kabira Mobility.
Urban transportation is being transformed by Kabira Mobility, a top electric mobility startup, with the help of smarter, cleaner, and more connected solutions. With cutting-edge technology and features that appeal to a variety of riders, their electric bikes, the KM3000 and KM4000, are the fastest and longest-riding in India.
“India holds immense potential and is poised to become the manufacturing hub for the global E2W market. Our investment in Kabira Mobility is aligned with Al-Abdulla group’s vision of investing in the renewable energy sector and supporting sustainable mobility solutions on a global scale,” said Manoj George, chief executive officer of Al-Abdulla Group.
About Kabira Mobility
Kabira Mobility is a Goa-based electric 02-wheeler start-up that creates smart, connected, and affordable mobility experiences for its customers. They have introduced the fastest and longest-riding electric bikes in India, the KM3000 and KM4000.