The Blue IP
Building the future of India's EV ecosystem with a dedicated warehousing and industrial park.
Artist's Impression: The Blue IP Industrial Park
Folks Motor marks first close of maiden investment fund for mobility bets
Hybrid electric retrofit car company Folks Motor has announced the first close of its Folks Funds, a Category II alternative investment fund (AIF), which has a target corpus of Rs 500 crore ($58.5 million).
The fund has already secured Rs 100 crore in its first close and aims to reach the full target by the end of 2025. It will focus on investments in India's electric vehicle (EV) supply chain and local manufacturing capabilities.
"The company claims that it is India's first ESG-focused investment fund dedicated to the EV supply chain, aiming to drive consolidation and demand aggregation for EV systems and components."
Introducing "The Blue IP"
A significant portion of the fund will be allocated to developing “The Blue IP”, a warehousing and industrial park in Sonipat, Haryana. This facility is designed to support the EV ecosystem by providing essential manufacturing and logistics infrastructure.
The fund's investments will focus on key areas such as:
- Powertrain Systems
- Energy Storage
- Electronic Manufacturing Services (EMS)
- System Integration
The initiative is committed to achieving a minimum of 50% domestic value addition, aligning with government policies promoting local manufacturing. Folks Motor is also in discussions with the Telangana and Karnataka state governments regarding expansion.
“Our vision with Folks Funds is to redefine India’s position in the global EV supply chain. With the Blue IP and our strategic partnerships, we are not just building infrastructure—we are building future-ready ecosystems for sustainable manufacturing.”— Nikhil Anand Khurana, MD & CEO, Folks Motor
Besides this, the fund will also focus on retro-fitment technologies, which are critical to extending the lifespan of existing vehicles and reducing operational costs for commercial fleets. This dual approach supports both green mobility and economic efficiency.
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