The market for electric scooters in India is expected to skyrocket in the near future, partly due to specific local legislative provisions, thanks to the planned replacement of a large portion of the current small vehicle fleet with “green” vehicles. Obviously, the expansion 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 can contribute to the company’s global emissions goals. These circumstances have generated a considerable presence of start-ups related to electric mobility, and even the most relevant manufacturers in the Indian market are seeking to establish commercial agreements in this segment or develop their own electric vehicles.
With this scenario in mind, it is easier to understand the partnership between Yamama Motor Co. and River, the latter being a promising start-up that currently only produces one scooter model (the Indie), which should be recognized for its original and interesting ideas. In fact, River launched a financing campaign that was subscribed to by about $20 million from existing investors (Al Futtaim Group, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility) and over $20 million from the Japanese manufacturer. The Indian manufacturer, founded in 2021, has raised $68 million 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 a goal to reduce Scope 3 CO₂ 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 the Booster, available in Europe, but they are currently not part of Yamaha India’s range.
