NY-GAYAM-MOTOR-WORKS
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
IQM to Invest Over €40 Million to Expand Finland Production Facility, Accelerate Innovation and Fuel Growth26.11.2025 09:49:00 CET | Press release
The new facility will produce advanced quantum chips for error corrected quantum computers, almost double the cleanroom space and system assembly line capacity to produce up to 30 quantum computers per year. The integrated quantum computer production line will be one of the world’s most advanced of its kind combining fabrication of quantum chips and system assembly. The expansion is expected to be completed by the first quarter of 2026. The expansion is part of IQM’s long-term commitment to scale its infrastructure and execute the ambitious technology roadmap aiming at 1M quantum computers by 2033. IQM Quantum Computers, a global leader in superconducting quantum computers, today announced over €40 million investment to expand its state-of-the-art production facility in Finland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251126943986/en/ This strategic expansion will accelerate the development, fabrication and testing of
Thredd Powers Successful Migration of BigPay’s Card Portfolio to Next-Gen Platform26.11.2025 09:00:00 CET | Press release
The transition of millions of cards showcases Thredd’s superior capabilities amid a high-stakes, global trend of sunsetting legacy processing engagements Thredd, the leading next-generation global payments processor, has successfully migrated BigPay’s virtual and physical card portfolio from its previous, legacy processor to Thredd’s next-generation platform, underscoring Thredd’s leadership in complex card portfolio migrations. The migration project, one of several in recent years, included over 2.5 million cards and highlights Thredd’s unique combination of deep migration experience, robust processes, and advanced technology—qualities increasingly critical as the industry faces a wave of modernisation and replatforming. This achievement comes at a pivotal moment for the industry. Industry analysts estimate that retail banks failing to modernise could see 10% to 15% of their payments revenue at risk annually as legacy platforms struggle to keep pace with demands for hyperpersonalizati
With Two in Five Employees Undergoing Fertility Treatment Leaving Their Jobs or Considering Quitting, Are Companies Doing Enough?26.11.2025 08:00:00 CET | Press release
An international survey, spanning Australia, France, Japan, Poland and the UK, has found that many employees experiencing fertility challenges lack support in the workplace, with almost two in five (39%) leaving or considering leaving their roles while undergoing treatment.1 ‘The Impact of Fertility Challenges at Work: International Insights’ survey by Ferring Pharmaceuticals, Fertility Matters at Work and This Can Happen shows that, despite growing awareness of reproductive health, two thirds (67%) who have experienced fertility challenges say that their workplaces do not offer support for employees undergoing fertility treatment, with France the least likely to provide it (88%).1 60% said they were not clearly entitled to time off for fertility appointments, with time recorded as paid leave, unpaid leave or annual leave (26%), and some also reported taking sick leave due to a lack of flexibility (17%).1 With assisted reproduction therapy, including IVF, already accounting for up to 1
Venture Global and Tokyo Gas Announce 20-Year LNG Sales and Purchase Agreement26.11.2025 01:00:00 CET | Press release
Venture Global’s fourth long-term contract with a Japanese company7.75 MTPA of long-term contracts signed by Venture Global to date in 2025 Today, Venture Global, Inc. (NYSE: VG) and Tokyo Gas Co., Ltd announced the execution of a new, long-term liquefied natural gas (LNG) Sales and Purchase Agreement (SPA). Under the SPA, Tokyo Gas will procure 1 million tonnes per annum (MTPA) of LNG from Venture Global for 20 years, starting in 2030. This deal marks 7.75MTPA of SPAs signed by Venture Global in the last six months. “With nearly 8 MTPA of new long-term commitments signed this year, Venture Global is pleased to build on our commercial momentum through this new partnership with Tokyo Gas,” said Venture Global CEO Mike Sabel. “Tokyo Gas is a pioneer in the LNG industry and leading provider of natural gas to Japan, and we look forward to working with them as we grow our position as a top LNG supplier to Japan. This agreement will contribute significantly to the US-Japan balance of trade o
Airship Study: No-Code Native App Experiences Double Purchase Frequency (+140%), Offering Path to Profitable Holiday Growth26.11.2025 00:08:00 CET | Press release
New research quantifies the massive conversion lift from optimizing native app and web experiences, providing a critical no-code path for retailers to drive profitability Mobile-first customer experience company Airship today released new aggregate data analysis findings showing that no-code native app experiences significantly increase conversion for key lifecycle events and more than double purchase frequency. The Airship "Experience Impact” research, which studied over 1,000 in-app retail experiences and 1.7 billion device sessions, quantifies the impact of optimizing end-to-end customer journeys—not just sending messages—using no-code and AI-powered tools to drive loyalty and retention at scale, leading to sustainable profitability in a volatile economic environment. Key Findings Customers exposed to high-impact no-code native app experiences such as optimized onboarding flows, dynamic surveys, or embedded personalized offers, purchase 140% more frequently than app customers who do
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