River Mobility Sets Sail on $150M Expansion

River Mobility is gearing up for a significant expansion with plans to raise $150 million. This ambitious move will fund the establishment of a new factory in Southern India dedicated to electric two-wheeler production, with construction set to begin in 2026.

The startup recently launched a new outlet in Chennai, marking the beginning of its aggressive retail expansion. By the end of FY25, River Mobility aims to open 50 stores across the country, doubling to 100 outlets by FY26, with 10% being company-owned.

The upcoming plant, requiring an investment of ₹1,000 crore, will have an impressive production capacity of five lakh units per year. This is a significant boost from the existing unit at Hoskote near Bengaluru, which will reach its full capacity of one lakh vehicles per annum by FY26.

Currently, River Mobility operates two branches in Bengaluru and one in Hyderabad, selling approximately 400 bikes monthly. This steady sales volume underpins their expansion strategy, providing a solid foundation for future growth.

Anticipating a strong market response, the company projects revenue between ₹80-120 crore in the first operational year of FY25. River Mobility's expansion reflects its commitment to becoming a major player in the electric vehicle market in India.

News by Rahul Yelligetti