The market for electric scooters in India is set to skyrocket in the near future, partly due to specific local legislative provisions, thanks to the planned replacement of a large part of the current fleet of small vehicles with “green” ones. Obviously, the broadening of the market is appealing to everyone and many have seen it as an opportunity for success, but it is also significant that the production of electric vehicles could lead to compliance with the company’s global emissions targets. These circumstances have generated a considerable presence of start-ups linked to electric mobility, and even the most relevant manufacturers in the Indian market are looking to establish commercial agreements in this segment or develop their own electric vehicles.
With this scenario in mind, it’s easier to understand the partnership between Yamama Motor Co. and River, the latter a promising start-up which, at the moment, only produces one scooter model (the Indie) to which original and interesting ideas should be attributed. In fact, River has launched a funding campaign that has been subscribed for around 20 million dollars by existing investors (Al Futtaim Group, Lowercarbon Capital, Toyota Ventures and Maniv Mobility) and more than 20 million dollars by the Japanese manufacturer. The Indian manufacturer founded in 2021 has thus raised 68 million dollars so far, and with this move Yamaha intends to seek “new business partnerships with the company in the Indian electric vehicle market”, recalling that “in Yamaha Motor Group’s Environmental Plan 2050, the company has set the goal of reducing CO₂ Scope 3 emissions (emissions produced by the company’s value chain, for example, the use of products sold) by 90 % by 2050, compared to 2010”.
This investment is one of the company’s initiatives to achieve this goal. Yamaha already has two electric vehicles, the Neo and Booster, available in Europe, but they are not currently part of Yamaha India’s range.
