3ev Industries, an electric vehicle (EV) OEM, said it has raised ₹120 crore in Series A funding from investors primarily led by Mahanagar Gas Ltd (MGL). This is MGL’s first investment in the electric mobility sector. It has invested ₹96 crore.
The current round also saw participation from Equentis Angel Fund and Thackersey Group, the firm said.
The investment will help the company expand its manufacturing capabilities and power the launch of its 3C division (Charging, Care & Conversions).
It will further accelerate advancements in supply chain integration and research across regenerative braking systems, advanced materials, and solar-enabled cold chain EV technologies, it said.
“This investment initiated in FY25 marked a defining milestone for us. With this funding, we have strengthened our build quality, after-market capability and tailored financing solutions that make EV adoption seamless for our customers,” Peter Voelkner, MD, 3ev said.
“Our mission has always been to transform last-mile connectivity with sustainable mobility through an Ecosystem approach, and this partnership gave us the resources and strategic support to target that” he said.
“We believe 3ev’s unique combination of robust vehicle design, strong customer testimonials and an innovative Battery-as-a-Service model positions it to play a pivotal role in driving EV adoption across urban markets in a nascent industry,” said Manas Das, VP, MGL
Published – November 26, 2025 11:22 am IST
