In a significant move toward transforming India’s electric vehicle (EV) ecosystem, Folks Motor has raised ₹100 crore in the first close of its newly launched Alternative Investment Fund (AIF) The fund targets a total corpus of ₹500 crore, aiming to power local manufacturing, strengthen the EV supply chain, and accelerate green mobility initiatives across the country.
This investment reinforces the company’s strategic mission to build a sustainable, indigenous EV value chain aligned with India’s Make in India and green energy goals.
Supporting India’s EV Vision
Folks Motor has structured Folks Funds to support critical gaps in India’s electric mobility sector, especially through indigenous production. The fund’s objective is to push for a minimum of 50% domestic value addition in every initiative it supports. Through this, the company clearly intends to reduce dependency on imports and promote local innovation in EV technologies.
Notably, the fund will focus on startups and companies operating in energy storage, powertrain systems, Electronic Manufacturing Services (EMS), and system integration, all of which are critical for the development of a self-reliant EV ecosystem.
Building India’s First EV-Centric Industrial Park
A significant part of the fund will go into developing “The Blue IP,” India’s first industrial park dedicated exclusively to xEV (electric and hybrid electric vehicle) manufacturing and logistics. Located in Sonipat, Haryana, this facility will act as a comprehensive hub for EV warehousing, manufacturing, and distribution. The project is expected to become a benchmark for EV infrastructure development across the country.
Through this investment, Folks Motor intends to create a scalable ecosystem that can support both small manufacturers and large OEMs under one dedicated roof. Additionally, the park will provide operational support to ecosystem players, ensuring that they have access to necessary infrastructure and logistical solutions.
Driving Regional Expansion Plans
In addition to Haryana, Folks Motor is actively exploring expansion opportunities in Telangana and Karnataka, both of which have emerged as pro-EV states due to their investor-friendly policies and growing infrastructure. The company is already in advanced discussions with the respective state governments to establish new facilities and partnerships.
By expanding into these states, Folks Motor hopes to tap into an already thriving ecosystem and bring in new investment opportunities for local entrepreneurs and industry stakeholders.
Strengthening India’s Green Mobility Future
With the successful first close of ₹100 crore, Folks Motor has laid a strong foundation for its ₹500 crore AIF. Through strategic investments in manufacturing, innovation, and infrastructure. The company plans to fuel India’s transition to a low-emission, locally driven mobility landscape.
The launch of “Folks Funds” comes at a time when the Indian automotive sector is shifting gears. Toward electrification, sustainability, and digital transformation. As a homegrown player, Folks Motor aims to lead this transition not only by offering innovative products. But also by building the backbone for long-term EV growth.
Through a focused, purpose-driven fund and robust product innovation. Folks Motor has positioned itself as a key enabler in India’s electric mobility revolution.
