Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home E-Mobility

bp and Morgan Stanley India Infrastructure commit $22m to Magenta Mobility

Urja Daily by Urja Daily
April 5, 2023
in E-Mobility, EV Battery
Reading Time: 3 mins read
0
Magenta Mobility_bp Ventures_Morgan Stanley India InfrastructureFunding Announcement_05th April 2023_img4
Share on FacebookShare on TwitterShare on Linkedin

bp and an investment fund managed by Morgan Stanley India Infrastructure have committed a total $22 million equity investment into Magenta Mobility, a leading e-mobility company in India which specializes in the electrification of logistics and last-mile delivery – the journey from a distribution centre to a home or business.

Magenta Mobility is one of India’s largest electric mobility providers with more than 750 three- wheel electric vehicles (EVs) across seven cities providing electrified last mile delivery logistics. The Company operates 35 charging and parking hubs in these cities. The company is working on an eco-system approach to provide solutions to all the participants – customers, driver partners, OEMs and financiers. The company works with some of the largest e-commerce, food and online delivery companies in the country.

RELATED POSTS

Key Drivers Fueling the Expansion of Europe’s Used Car Market

SecureKloud Unveils DocuGenie.AI to Revolutionize Document Automation with Generative AI

With more than 100 million online shoppers, and the government’s target of the electrification of e-commerce delivery and logistics by 2030, India is a key market for bp’s global electrification business, bp pulse. bp and Magenta Mobility will also collaborate on electric fleet management software.

Jio-bp – part of bp’s joint venture with Reliance – will be the exclusive EV charging partner for Magenta Mobility’s fleet. Within few years of operations, Jio-bp has constructed and launched many of India’s largest EV fleet charging hubs along with hundreds of public charge points in various cities and major highways across the country.

Magenta Mobility plans to expand its fleet to 4,000 three and four-wheel EVs across the country over the next year. The capital will support Magenta Mobility’s market expansion into eight additional cities across India in the next two years beyond strengthening its presence in Bengaluru, Mysuru, Delhi, Gurgaon, Noida, Hyderabad, and Mumbai.

Sashi Mukundan, President, bp India and senior vice president, bp said: “Decarbonizing the last mile is increasingly important in India as the e-commerce market is expected to grow fourfold by 2030, which will require the deployment of huge numbers of new vehicles this decade. With the Indian Government setting an ambitious 2030 target for the complete transition to EVs for e- commerce, delivery, and transport logistics service providers, Magenta Mobility through its operations will help decarbonize Indian cities whilst helping meet demand in the fast -growing e- commerce delivery industry.

“This is bp’s first venture-led entry into India’s last-mile delivery market and our second in India’s mobility sector. We are proud to be investing and partnering with Magenta Mobility, to support the company’s growth across India. We see this investment as an opportunity to further advance decarbonizing mobility solutions.”

bp is investing heavily in five transition growth engines that will help drive its transition to an integrated energy company, and deliver its net zero plans, including BP PULSETM electric vehicle infrastructure, which is already live in nine countries worldwide. 

Shyamsundar Gurumoorthy, Managing Director and Co-Head of Morgan Stanley India Infrastructure, said: “We are very excited to work with dynamic co-founders and a management team that is at the heart of building the Indian commercial EV fleet eco-system. Being one of the early entrants in the charging infrastructure space, the company is uniquely positioned to stitch an end-to-end solution to enable businesses to go electric in their middle and last mile operations. In terms of market opportunity, there are strong tailwinds supporting EV adoption by large customers in their supply chain both for economic and sustainability reasons. We believe that Magenta Mobility will play a leadership role in scaling this industry, consolidate its market-leading position and support growth of sustainable logistics”.

Maxson Lewis, Founder and Managing Director of Magenta Mobility added: “This investment from bp ventures and Morgan Stanley India Infrastructure is a significant milestone for the Company as we look to build on our strong foundations in the EV space over the last 4 years. This investment and backing will catapult us in scaling our tech-led Electric Mobility platform across the country.

“Magenta Mobility was one of the pioneers of electric vehicle charging in India. We understand the pain points, limitations for EV adoption in commercial fleet operations and have developed technology/software solutions to address these issues. Today, with our solutions we are delivering for some of India’s largest and most successful companies. We’re excited about our relationship with global marquee investors like bp and Morgan Stanley, as we continue to electrify and decarbonise logistics in India.”

Tags: BPE-mobilityMagenta MobilityMorgan Stanley India
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

digital technology

Key Drivers Fueling the Expansion of Europe’s Used Car Market

by Palak
June 5, 2025
0

The Europe Used Car Market is undergoing a dynamic transformation, driven by a confluence of economic shifts, consumer behavior changes, technological...

SecureKloud

SecureKloud Unveils DocuGenie.AI to Revolutionize Document Automation with Generative AI

by Palak
June 5, 2025
0

Chennai, Tamil Nadu, India; Bangalore, Karnataka, India - SecureKloud Technologies Ltd. AI-led digital innovation, SaaS, and Managed services today announced...

Comau

Comau and Intecells Collaborate to Revolutionize Battery Electrode Manufacturing

by Palak
June 4, 2025
0

Comau and Intecells are collaborating to increase battery electrode production efficiency by using cold plasma technology to streamline the manufacturing...

EV Charging Infrastructure

Global EV Charging Infrastructure: Bridging the Demand-Supply Gap

by Palak
June 4, 2025
0

As electric vehicles (EVs) move from niche to mainstream, the global automotive ecosystem is undergoing a historic shift. But this...

RML Group Ltd

RML Group Earns Conformity of Production Certification for Battery Systems

by Palak
June 4, 2025
0

Conformity of Production (CoP) certification from UCA confirms consistent compliance with UN ECE Regulation 100 First-ever CoP for an RML...

Next Post
BLUETTI

BLUETTI EP600 and AC500 Win Red Dot Design Award 2023

Jinko Solar

Jinko Solar leads Solar Photovoltaic Market in Brazil in 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

LNG Market

Leading LNG Exporters Driving the Global Market

June 9, 2025
Orb Energy

Bergen Pipe Supports Goes Solar with 700 kW Rooftop System from Orb Energy

June 9, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

Leading LNG Exporters Driving the Global Market

Bergen Pipe Supports Goes Solar with 700 kW Rooftop System from Orb Energy

Recyclekaro Group Brings Recycling to the Doorstep with Its New D2C Platform

Errol Musk Wraps Up 6-Day India Tour, Applauds Green Tech and Rich Culture

HyperloopTT’s Italian Project Begins Operations

World Environment Day 2025

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved