EV startup AVERA announces ₹100 crore expansion; eyes Australia foray

AVERA, an electric vehicle (EV) startup, has announced a ₹100 crore expansion plan. The company plans to use the funds to set up a new manufacturing facility, expand its R&D team, and increase its marketing and sales efforts.

AVERA is currently manufacturing its EVs at a facility in Pune. The company plans to set up a new manufacturing facility in Gujarat with a capacity of 100,000 units per year. The new facility is expected to be operational by the end of 2023.

AVERA also plans to expand its R&D team to 500 engineers by the end of 2023. The company is currently developing new EV technologies, such as solid-state batteries and autonomous driving.

AVERA is also looking to expand its marketing and sales efforts in India and overseas. The company plans to open new dealerships in India and enter the Australian market in 2023.

The expansion plan is a significant milestone for AVERA. The company is one of the few EV startups in India that is planning to scale up its operations. The expansion will help AVERA to meet the growing demand for EVs in India and overseas.

AVERA is well-positioned to capitalize on the growing EV market in India. The company has a strong team with experience in the automotive industry. AVERA is also backed by marquee investors, such as Sequoia Capital India and Blume Ventures.

The expansion plan will help AVERA to become a major player in the EV market in India. The company is also looking to expand its operations to other countries in the future.