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
Lufthansa Selects Alcohol-Free Gewürztraminer Made with Solos Technology for Premium Allegris Business Class Experience11.11.2026 11:55:00 CET | Press release
German winery Bergdolt-Reif & Nett's BREAKAWAY Gewürztraminer selected following a blind tasting, combining winemaking expertise with Solos' dealcoholisation and patented aroma recovery technology. Lufthansa has selected BREAKAWAY Gewürztraminer, an alcohol-free wine from German winery Bergdolt-Reif & Nett, for its Allegris Business Class. Made using Solos technology, the wine was chosen following a blind tasting and is scheduled to be served from November 2026 to January 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111810839/en/ BREAKAWAY Gewürztraminer by Bergdolt-Reif & Nett, made with Solos technology. The selection marks a milestone for both partners, bringing their expertise to Lufthansa's premium passengers. Where winemaking meets innovation BREAKAWAY Gewürztraminer is made from a late-harvest wine, chosen for its distinctive aromatic character. Bergdolt-Reif & Nett, a fifth-generation family winery in Germ
Quectel SP900BF-AP Smart Module Sets the Pace for Edge AI with 100 TOPS of Computing Power11.11.2026 10:00:00 CET | Press release
Quectel Wireless Solutions, a global end-to-end IoT solutions provider, today announced the SP900BF-AP, a smart module that lets robots, inspection systems and edge gateways run large AI models on the device itself. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111252890/en/ Quectel SP900BF-AP smart module sets the pace for Edge AI with 100 TOPS of computing power Built on the Qualcomm Dragonwing™ IQ-9075 Processor and delivering up to 100 TOPS of on-device AI compute, the module enables industrial OEMs to integrate advanced AI directly into their products, reducing latency, bandwidth costs and data privacy risks associated with cloud-based processing. By processing data locally, manufacturers can support real-time robotics, automated inspection and other demanding industrial applications while retaining greater control over sensitive production data. Long-term hardware availability also helps meet the extended product l
Quectel Expands 5G Antenna Portfolio With Ten Versatile Combo Solutions, From Compact 2-In-1 to Rugged 9-In-1 Designs11.11.2026 10:00:00 CET | Press release
Quectel Wireless Solutions, a global IoT solutions provider, today announces ten external combo antennas that combine 5G with GNSS, Wi-Fi or both in a single housing. Instead of specifying, fitting and testing a separate antenna for each radio, device makers can choose one unit matched to the size, technology mix and operating environment of their deployment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111461614/en/ Quectel expands 5G antenna portfolio with ten versatile combo solutions, from compact 2-in-1 to rugged 9-in-1 designs Across the family, each antenna combines multiple omnidirectional elements with high isolation between them to limit self-interference. Most models cover 5G from 600MHz to 6000MHz and remain backward compatible with 4G, 3G, 2G, LTE Cat-M and NB-IoT networks. All support screw mounting, some also adhesive mounting, and housings are built for outdoor use with ratings from IP65 up to IP69K. “Ev
Lattice and NXP Deliver Flexible, Secure Computing Solution for the Industrial Edge10.11.2026 22:00:00 CET | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable and platform firmware leader, today announced the Lattice NXP PCIe® Companion solution, jointly enabled and promoted with NXP® Semiconductors. Pairing NXP’s i.MX 95 applications processor with Lattice Nexus™-based FPGAs over PCIe, the solution addresses the real-time connectivity, deterministic I/O, and security challenges in industrial automation, robotics, and intelligent edge applications. The joint solution is available in Lattice CertusPro™-NX or Lattice Certus™-NX configurations as companion chips to NXP i.MX 95 SoC compute processors, deepening a long-standing collaboration between Lattice and NXP spanning industrial, data center, and networking applications. The Lattice FPGA adds low latency, deterministic I/O alongside the NXP applications processor, delivering combined capabilities across real-time processing, AI, and custom I/O to help customers modernize aging designs for new interface standards. It supports e
FDA Approves PIMJETMI® (pimicotinib) for Patients with Tenosynovial Giant Cell Tumor10.11.2026 19:14:00 CET | Press release
PIMJETMI is a new once-daily oral systemic treatment option for certain U.S. patients with symptomatic tenosynovial giant cell tumor (TGCT)In the Phase 3 MANEUVER trial, PIMJETMI demonstrated early1 and durable2 tumor response with clinically meaningful improvements in all clinical outcome assessments, including physical function and painPIMJETMI has shown high objective response rate (ORR) with a manageable safety profileNot intended for Canada-, UK- or US-based media Merck, a leading science and technology company, announced today that the U.S. Food and Drug Administration (FDA) has approved PIMJETMI® (pimicotinib), a once-daily oral colony stimulating factor-1 receptor (CSF-1R) inhibitor, as a systemic treatment for adults with symptomatic tenosynovial giant cell tumor (TGCT) for which surgical resection may cause worsening functional limitation or severe morbidity. “People living with TGCT have long faced difficult treatment decisions as they navigate a disease that can significant
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