The International Finance Corporation (IFC) is planning to invest USD20 million in electric vehicle (EV) platform Transvolt Mobility as part of a USD50 million financing round.
This marks IFC’s first equity investment in an EV platform and aims to support Transvolt in scaling its electric fleet to 3,500 vehicles. Transvolt also plans to deploy 8,000 heavy commercial EVs, including buses and trucks, across India, having already deployed 500 units since 2023.