River Mobility plans Rs 1,000 crore investment in new EV manufacturing facility

Bengaluru-based electric vehicle (EV) startup River Mobility Pvt Ltd is in discussions with several states to set up a manufacturing facility. The startup is planning to invest around Rs 1,000 crore in the facility with aims to manufacture 5 lakh vehicles annually. The company is in talks with the governments of Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh to find suitable land for constructing the factory.

“We are actively discussing with govts of Telangana, Tamil Nadu, Karnataka and Andhra Pradesh for land where we can construct our own factory. We would need anywhere from 25 to 50 acres for a facility that can churn out half a million units per year,” said Aravind Mani, CEO of River Mobility.

River Mobility has already invested approximately Rs 250 crore in its R&D facility and leased factory in Bengaluru. This current facility has a production capacity of 1 lakh units per year. The next significant investment is planned to be Rs 1,000 crore for the larger, owned facility.


The company has secured around $68 million (approx. Rs 575 crore) over the last three years from strong investors, including prominent Japanese companies such as Yamaha, Toyota, Mitsui, and Marubeni.

“River is the first investment in India for Maniv Mobility, Trucks VC, Lower Carbon Capital, Toyota Ventures, Al-Futtaim Automotive and Marubeni Ventures,” Mani stated. He also announced the opening of the company’s first retail outlet in Hyderabad.