NY-GAYAM-MOTOR-WORKS
31.3.2021 21:20:05 CEST | Business Wire | Press release
Gayam Motor Works (GMW) today announced a US$50Mn investment commitment from Luxemberg based GEM Global Yield LLC SCS (“GEM”) as the company plans to go public. The commitment will be made available on the first day of trading or in tranches to be drawn at the company’s option over a three-year period. With certainty of the investment upon listing, GMW is now well-positioned to deliver on the company’s vision of accelerating the world’s transition towards smart and sustainable mobility.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210331005905/en/
GMW is a pioneer in the Indian electric mobility space, and is the largest exporter of electric 3Ws (or e-tuktuks) from India, with presence in UK, France, Portugal, Japan, Uganda, Nepal and Bangladesh. GMW’s SmartAuto is the first Indian e-3W to be European certified, and is also the first e-3W to be designed with a modular battery swapping system.
The combined value of 3Ws and 3W refueling markets is at US$32Bn. Several developing countries have a high rate of usage of three-wheelers, which were traditionally powered by IC engines. These markets are now looking at electric 3Ws as the future of intra-city mobility.
“This agreement with GEM is a validation of our position as a market leader in the affordable e-mobility space. We have indigenously designed a robust powertrain with proprietary battery swapping technology. Some of the global automobile majors are exploring technology partnerships with us to co-develop affordable mobility solutions, ” said GMW’s CEO Raja Gayam.
GMW's clientele includes IKEA, Amazon, Uber, Flipkart (Walmart), Sokowatch, Grofers, BigBasket, Delhivery, and several others. The company also set up battery swapping and charging networks at these customer warehouses and distribution centers. “COVID-19 has caused a steep increase in ecommerce penetration globally. E-commerce firms and fleet operators find small commercial EVs to be an affordable and smarter way of moving goods around, as last-mile delivery accounts for the largest portion (~41%) of supply chain costs. Now, we look to help drive the industry’s inevitable electrification, ” said GMW’s COO Sri Harsha Bavirisetty
The pandemic caused big shifts in the supply chain industry for many years to come. The global trend towards micro-fulfillment and distribution centers spread across the cities, has laid the path for smaller commercial EVs due to faster pickup/deliveries and shorter distances.
GMW’s future plans also call for the production of electric 4W trucks to follow from next year, which will have longer range and larger volume. The vehicle will likely be designed with the same battery interface of their SmartAuto for swift battery swapping across multiple vehicle types.
About Gayam Motor Works (GMW)
Gayam Motor Works (GMW) is led by brothers Raja Gayam and Rahul Gayam, and their collegemate Sri Harsha Bavirisetty in India. The company produces advanced electric 3-wheelers namely ‘SmartAuto Taskman’ (pickup truck) and ‘SmartAuto UrbanET’ (passenger). Rahul Gayam (CTO) is a Mercedes-Benz EQ Global Fellow, Senior Summit Fellow and was listed among Forbes Asia 30 Under 30. For more information, please visit: https://www.gayammotorworks.com .
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. For more information: http://www.gemny.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210331005905/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Consulting styrker sit cybersikkerhedstilbud gennem samarbejde med Trillium Information Security Systems21.3.2026 02:16:00 CET | Pressemeddelelse
Andersen Consulting udbygger sine kompetencer inden for teknologi og risikostyring gennem en samarbejdsaftale med Trillium Information Security Systems (TISS), et cybersikkerhedsfirma. Med en tilstedeværelse i Canada og Pakistan leverer TISS omfattende cybersikkerhedsløsninger til organisationer inden for finans, telekommunikation og den offentlige sektor. Virksomhedens team tilbyder et bredt udvalg af ydelser, herunder sikkerhedsvurderinger, managed security operations, red team-tjenester, digital efterforskning og hændelsesrespons samt GRC-rådgivning. Med næsten to årtiers erfaring leverer TISS adaptive, efterretningsdrevne forsvarsmekanismer, der hjælper kunder med at forudse og reagere på cybertrusler, der er i konstant udvikling. "Hos TISS arbejder vi på at skabe et mere sikkert digitalt miljø ved at give organisationer mulighed for at operere sikkert og med selvtillid," udtalte Mahir Mohsin Sheikh, administrerende direktør for TISS. "Vores samarbejde med Andersen Consulting giver
Andersen Consulting udvider sin teknologiplatform i Frankrig20.3.2026 17:28:00 CET | Pressemeddelelse
Andersen Consulting udvider sit udbud inden for digital transformation med en samarbejdsaftale med Teolia Consulting, et fransk firma, der specialiserer sig i projekt- og produktstyring, cloud-platformsudvikling, datatransformation samt implementering og brug af Atlassian-pakken. Teolia Consulting blev grundlagt i 2014 og hjælper organisationer med at opnå digital performance, fra agile metoder til løsninger, der reducerer lanceringstiden. Virksomhedens ekspertise består i at levere integrerede strategier, der bringer teknologi og organisatorisk forandring i overensstemmelse. Virksomheden arbejder på tværs af brancher, herunder inden for bank- og finanssektoren, forsikring, mode og detailhandel, og hjælper kunder med at få større robusthed og accelerere deres digitale modenhed. "Hos Teolia Consulting mener vi, at ægte transformation opstår, når teknologi og mennesker udvikler sig sammen," sagde Lucienne Jacquet, der er administrerende partner i Teolia. "Ved at samarbejde med Andersen C
Incyte to Highlight Late-Breaking Hidradenitis Suppurativa Data at the 2026 American Academy of Dermatology (AAD) Annual Meeting20.3.2026 15:00:00 CET | Press release
- New, late-breaking 54-week data for povorcitinib in hidradenitis suppurativa (STOP-HS1 & STOP-HS2) to be highlighted - Featured abstracts for ruxolitinib cream (Opzelura®) and povorcitinib include multiple ePosters in atopic dermatitis, hidradenitis suppurativa and vitiligo Incyte (Nasdaq:INCY) today announced that data from key programs in its Inflammation and Autoimmunity (IAI) franchise will be presented at the 2026 American Academy of Dermatology (AAD) Annual Meeting, to be held March 27 – 31, 2026, in Denver. “At AAD 2026, we are presenting late‑breaking 54-week results from the Phase 3 STOP‑HS program evaluating povorcitinib in hidradenitis suppurativa (HS),” said Jim Lee, M.D., Ph.D., Group Vice President, Inflammation and Autoimmunity, Incyte. “These data provide longer term evidence of the safety and efficacy of povorcitinib in HS patients and further strengthen the significant growth potential of our Inflammation and Autoimmunity franchise.” Details on key data presentation
MUSASHI JAPAN by TAIMATSU Launches “Road to Shogun” – A Journey Through Craftsmanship and Discovery20.3.2026 13:58:00 CET | Press release
Musashi Japan by TAIMATSU Co., Ltd., a contemporary Japanese knife brand rooted in the spirit of craftsmanship and cultural harmony, has announced its newest experiential campaign: “Road to Shogun.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260320887471/en/ Designed as the brand’s most ambitious customer journey to date, the campaign invites visitors to explore participating Musashi Japan stores while discovering the traditions, culture and craftsmanship that inspire the brand. Inspired by the journey towards mastery, the experience encourages participants to progress through a series of ranks whilst visiting stores and unlocking rewards that celebrate elements of everyday Japanese culture. At Musashi Japan, craftsmanship is not only about the final product, but also about the path taken to achieve mastery. The Road to Shogun reflects this philosophy by guiding customers through a journey that mirrors the dedication, cu
Futur Delivers Strong Growth and Record Profit in 202520.3.2026 12:05:00 CET | Press release
In 2025, Futur added 21,000 new customers and the inflows amounted to 34 billion kronor. At the end of the year, the total savings capital was 252 billion kronor, an increase of 7% from the previous year and a new record level. "2025 was a record year for Futur. In a market characterized by sharp market fluctuations, Futur continued to invest, grow and deliver strong results. Behind this record performance is stable customer growth, strong inflows and cost discipline. Our close cooperation with over 60 partners gives customers the freedom to choose the asset management and advisory services that best suit them. The strategy of letting the customer choose is appreciated, which is reflected in us welcoming more than 21,000 new customers during the year", says Torgny Johansson, CEO of Futur. "We are optimistic about the future. Futur has great opportunities to continue growing in the coming years by developing innovative and efficient services for savings and pensions. I am proud of how a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom