Mumbai 6th May 2022 : Jindal Worldwide Limited, one of the largest manufacturers and exporters of denim, home textile, specialised fabric, technical fabric and intermediates, today acquired Earth Energy EV through its subsidiary Jindal Mobilitric Private Ltd. With the takeover, Jindal Mobilitric will take over the indigenously developed technology platform as well as Earth Energy’s brands, the successfully launched Glyde SX and the Glyde SX+ variants of its commuter scooter as well as the Evolve R and the Evolve S commuter and cruiser motorcycles.
Jindal Mobilitric will benefit from Earth Energy EV’s approach to build ground up using only indigenous components and Earth Energy’s strong commitment towards building the Indian EV infrastructure ecosystem.
The Mumbai-based automotive start-up Earth Energy EV already has appointed distributors across 10 Indian states, these include Maharashtra, Gujarat, Karnataka, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Chhattisgarh, Madhya Pradesh and Orissa, and these will be retained by Jindal Mobilitric while increasing the touchpoints thus strengthening the distributor network in each market.
As part of increasing and growing the manufacturing footprint, Jindal Mobilitric will set up a manufacturing plant in Ahmedabad which will supplement the existing Earth Energy manufacturing facility in Maharashtra.
Earth Energy vehicles are compliant with all public charging stations being set up by both government and private players. The achievement of 96% localization in manufacturing and spares considerably brings down the cost of maintenance as well as availability of spare parts. This makes Earth Energy an attractive proposition for the modern commuter.
Speaking on the development Rushii Senghani, CEO and Founder of Earth Energy, said “We are very happy to work with Jindal Mobilitric, as we move towards building a greener planet. We are confident with the way the Glyde SX & SX+ variants have performed. Our vehicles have been put through 7lakh 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.”
Speaking on the takeover Mr.Gaurav Davda, Spokesperson on behalf of Jindal Mobilitric Pvt Ltd , 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. Earth Energy’s team is innovative and bright and we are happy to be working with this talented team.”
Since its inception in 2017, Earth Energy has focused on the development of electric motorcycles, scooters, & autonomous vehicle drivetrains with a strong focus on localization and high-quality offerings.