EV startup Electriq gets funds from Yamaha Motors

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Two-wheeler startup electric Electriq has secured an undisclosed amount of investment through Yamaha Motors’ subsidiary Moto Business Service India (MBSI)which is the 14th investment from MBSI in the calendar year (2022). Prior to this, MBSI had invested into Royal Brothers-India’s bike rental business Two-wheeler rental startup Rentelo and electric startup Malbork and ride-hailing company Rapido and many more. MBSI has joined forces with Electriq to launch 1250 electric scooters and 50 electric bicycles within Hyderabad, Karnataka with the current campaign to raise funds.

Electriq was founded in the year 2021, in 2021 by Thakur the founder of the company, Thakur web and mobile-based platform that monitors electric vehicles as well as their drivers. It operates through the business-to-business and consumer streams. vehicles are equipped on Internet of things (IoT) devices that can share the information about the location of vehicles as well as drivers.

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MBSI was established in March 2022, is an enterprise in mobility from Yamaha Motors that offers asset management and other services. It also plans to expand into Southern India, Delhi and Kolkata through partnering with other businesses and offering solutions.It offers vehicle leasing and other services for companies that are developing electric mobility. It plans to increase the use of electric vehicles in rental platforms in addition to attempting to create job opportunities and enhance the quality of life for people. It plans to expand its services to new areas over the coming months. It has also joined forces with delivery companies that last mile that operate in Delhi, Chennai and Bengaluru.

Electriq informed that it Shoji Shiraishi, the Managing Director of MBSI said, “We are very excited to officially begin our operation in the EV industry in Hyderabad through a partnership with Electriq. It will be our intention to add electric vehicles in multiple cities, and provide employment opportunities for Indian youngsters. We are planning to collaborate with other mobility firms in the near future and transform the whole shared mobility market by providing our financial and strategic knowledge from our partners.”

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