Back to Media Coverage
Entrepreneur.com
May 20, 2025
Folks Motor launches 'Folks Funds' with Rs 100 Crore first close
e-Paper Clipping
The fund aims to bolster India's EV manufacturing capabilities and supply chain through strategic investments, targeting a total corpus of Rs 500 crore.
Folks Motor continues its aggressive growth strategy with the launch of 'Folks Funds', having secured Rs 100 Crore in its first close. The fund is positioned to be a catalyst for the Indian EV ecosystem.
The capital will be deployed strategically to support startups and SMEs involved in the EV supply chain, with a focus on powertrain systems, battery technology, and electronic manufacturing services. This aligns with the 'Make in India' initiative, ensuring high domestic value addition.
Industry analysts view this move as a strong signal of confidence in the retrofit maket, which offers a practical solution to decarbonizing the existing fleet of internal combustion engine vehicles.
The capital will be deployed strategically to support startups and SMEs involved in the EV supply chain, with a focus on powertrain systems, battery technology, and electronic manufacturing services. This aligns with the 'Make in India' initiative, ensuring high domestic value addition.
Industry analysts view this move as a strong signal of confidence in the retrofit maket, which offers a practical solution to decarbonizing the existing fleet of internal combustion engine vehicles.
Folks Motor continues to lead the way in the hybrid retrofit market. For more information, please visit our home page or contact us.
Related Topics
#EV
#HybridRetrofit
#Sustainability
#FolksMotor