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India Business News: MUMBAI: Australian financial services giant Macquarie will build electric vehicle charging stations, extend e-vehicle loans, provide fleet management .
We will be partnering with various folks to enable the right availability of the batteries. And constraints are in terms of technology, obsolescence risk and what happens to the residual value. So we are working with our partners.
Australia's Macquarie Asset Management plans to invest $1.5 billion in India's electric vehicle sector through its new platform Vertelo, offering fleet electrification solutions. The platform, backed by the Green Climate Fund, aims to reduce greenhouse gas emissions by 9.5 metric tonnes. Vertelo has already secured agreements with companies like Chalo Mobility, JBM, Eka Mobility, and Tata Motors to supply electric vehicles and develop charging infrastructure. Macquarie Group sees this investment as a step towards India's energy independence and combating climate change.
Capital pools have diversified amid the broader tech slowdown with large global, crossover and hedge funds mostly staying away from cutting new cheques. Domestic firms and family offices such as those run by Zerodha cofounder Nikhil Kamath, Manipal Group chairman Ranjan Pai, and Premji Invest have backed startups including Subko, Quorum Club, Kites Seniorcare and The Sleep Company.
Get latest articles and stories on Latest News at LatestLY. Technology-focused venture capital firm Filter Capital on Monday said its has secured Rs 800 crore funding for its maiden fund -- Filter Capital India Fund I. Latest News | Filter Capital Secures Rs 800 Cr for Its Maiden Fund.