- This is the fourteenth investment made this year by Moto Business Service India (MBSI), a subsidiary of Yamaha Motors (2022)
- With the money raised so far, MBSI and Electriq want to introduce 1250 electric scooters and 50 electric bicycles in Hyderabad, Karnataka.
- Along with Electriq, Yamaha aims to handle 5,000+ electric vehicles in Hyderabad and other cities during this fiscal year (FY22)
Yamaha Motors’ subsidiary Moto Business Service India has made an undisclosed investment in the electric two-wheeler company Electriq (MBSI). It is MBSI’s 14th investment of the year (2022).
Prior to this, MBSI invested money in other startups, including ride-hailing firm Rapido, electric startup Malbork, and the bike rental business of Royal Brothers-India.
With the money raised so far, MBSI and Electriq want to introduce 1250 electric scooters and 50 electric bicycles in Hyderabad, Karnataka.
In Hyderabad and other places during this fiscal year, Yamaha also aims to handle 5K+ electric vehicles alongside Electriq (FY22).
“We are overjoyed to launch the collaboration with MBSI with a batch of electric cars. Anand Thakur, CEO and creator of Electriq, stated that the company would offer consumers high-quality, reasonably priced products, replacement parts, after-sales services, and mobility solutions while also creating an ecosystem to enable MSMEs in developing their products more successfully.
Electriq is an IT-based platform that records electric vehicles and their drivers. It was founded in 2021 by Thakur. It functions through streams of commerce between businesses and consumers.
