Jindal Worldwide has forayed into the electric vehicle space with the acquisition of Mumbai-based EV startup Earth Energy via its subsidiary Jindal Mobilitric for an undisclosed amount. Jindal Mobilitric will set up a new manufacturing plant in Ahmedabad which will supplement the existing Earth Energy manufacturing facility in Maharashtra, the company said in a statement. With this acquisition, Jindal Mobilitric will take over the indigenously developed technology platform as well as Earth Energy's brands, Glyde SX and Glyde SX+ variants, of its commuter scooter and the Evolve R and the Evolve S commuter and cruiser motorcycles.
Also Read: Earth Energy EV Glyde Electric Scooter First Ride Review
Rushi S., CEO & Founder, Earth Energy EV with the Glyde+ electric scooter
Rushi Senghani, CEO and founder, Earth Energy said "We are very happy to work with Jindal Mobilitric. Our vehicles have been put through 700,000 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, spokesperson on behalf of Jindal Mobilitric 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."
Also Read: Earth Energy EV Receives Annual Demand For 37,000 Units
The Evolve Z is a commuter styled offering with a top speed of 95 kmph from a 5.4 kW electric motor that produces 56 Nm of peak torque
Earth Energy, operated by Grushie Energy Pvt. Ltd, was founded in 2017. It is an electric vehicle startup that manufactures and develops EV such as electric motorcycles, scooters, and autonomous vehicle drivetrains. Earth Energy has appointed distributors across 10 states including Maharashtra, Gujarat, Karnataka, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Chhattisgarh, Madhya Pradesh and Orissa, which will be retained by Jindal Mobilitric. Jindal Mobilitric will also add new touchpoints by strengthening the distributor network in each market.
