IWATA, February 6, 2024 -- Yamaha Motor Co., Ltd. (Tokyo: 7272) announced today that it has recently invested in World of River Limited, Inc. (hereinafter River), a startup that manufactures and sells electric scooters in India. This investment is for River's Series B round of funding through third-party allotment.
River develops, manufactures, and sells electric scooters. In India, the world's largest market for electric two-wheelers, River has established River Mobility Private Limited in Bengaluru as a group company, which offers electric scooters that excel in both quality and design.
The Indian government is supporting moves to electrification as part of its energy diversification initiatives to combat environmental issues as well as to promote domestic manufacturing, and the market for electric two-wheelers is growing rapidly. Through this investment in River, Yamaha Motor is seeking new business partnerships together with the company in India's EV market.
In the Yamaha Motor Group Environmental Plan 2050, the Company has set a goal of reducing Scope 3 CO₂ emissions (emissions produced from the Company's value chain, e.g., use of sold products) by 90% by 2050 compared to 2010. This investment is one of the Company's initiatives toward achieving this goal.
At a glance
- Company
- Yamaha Motor Co., Ltd.
- Ticker
- Tokyo: 7272
- Announcement
- Financing
- Location
- Iwata
Key figures
- Scope 3 CO₂ emissions reduction goal by 2050, versus 2010
- 90%
People
- Aravind ManiCo-founder/CEO of World of River Limited
Products and programs
World of River company logo
The Indie electric scooter from River
■ Overview of World of River Limited, Inc.
Representative: Aravind Mani (Co-founder/CEO)
Headquarters: Delaware, USA
Established: 2021
Business: Manufacture and sale of electric scooters, etc.
Website: https://www.rideriver.com/
■Contact us from the Press
Corporate Communication Division, PR group: +81-538-32-1145
■News Center: https://global.yamaha-motor.com/news/
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Questions around this news
What kind of investment did Yamaha Motor make in River?
The release says the investment was part of River’s Series B funding round and was made through a third-party allotment. It does not disclose the investment amount or the ownership stake obtained. Yamaha Motor described the investment as a step toward exploring business partnerships with River in India’s electric-vehicle market.
What does River do, and where does it operate?
River develops, manufactures, and sells electric scooters. The release says its group company, River Mobility Private Limited, is based in Bengaluru, India, and offers electric scooters. World of River Limited, Inc. is listed as established in 2021, with headquarters in Delaware, USA.
Why is Yamaha Motor investing in River?
Yamaha Motor said it is seeking business partnerships with River in India’s electric-vehicle market. The release also connects the investment to the company’s environmental plan, which sets a goal of reducing Scope 3 CO₂ emissions by 90% by 2050 compared with 2010 levels.
What is a third-party allotment?
A third-party allotment is a way for a company to raise capital by issuing new shares to selected investors rather than offering them to all existing shareholders. The investor provides funds in exchange for shares, which can change the ownership proportions of existing shareholders.
Earlier from Yamaha Motor Co., Ltd.
- Yamaha Motor Acquires Electric Marine Propulsion Manufacturer Torqeedo - Bolstering competitiveness and accelerating carbon neutrality efforts in the Electric field of the Company's Marine CASE Strategy -
- Yamaha Motor Releases New YRM10, Next-generation Compact High-speed Modular Mounter - 52,000 CPH Economy Model Surface Mounter, World's Fastest in 1-Beam/1-Head class -
- New Company Overseeing Yamaha's Global Financial Services Business in Full Operation - Strengthening Financial Services on a Global Scale per the Medium-Term Management Plan -
- Yamaha Motor to Reduce CO₂ Emissions with Mega Solar Power Plant at Fukuroi South Factory - Introduction of 2,200kW solar power plant for carbon neutrality -
- Yamaha Motor Establishes New Company for Battery Management in Compact Electric Vehicles - Launch of Subscription Services Helps Reduce Environmental Impact in Europe -
