Lithium Urban Technologies is looking to raise $40 million in funding as it doubles down on expansion.
“In the last quarter (Q4) we look to add another 500 vehicles apart from buses and electric SUVs to our portfolio,” Sanjay Krishnan, co-founder and chief executive officer of the electric vehicle fleet operator, told BloombergQuint. adding that the company is eyeing $40-45 million to boost expansion and help set up a charging network in the country.
The Bengaluru-based company, which operates nearly 1,100 electric Veritos sedans in India, looks to add 2,000 more electric vehicles by the end of the next financial year and set up about 25 charging hubs across India in 18 months.
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