RIVER RAISES $120M TO EXPAND EV PRODUCTION

River plans to use the funding to construct additional production capacity as it ramps up manufacturing of its existing lineup. The startup will introduce new EV models starting in 2027, expanding beyond its current offerings. The company is targeting profitability as it scales operations and increases vehicle deliveries. River joins a growing wave of Indian EV makers attracting significant venture capital investment as the domestic market shifts toward electric mobility. The new factory will boost production volume and reduce costs per unit. River's timeline indicates the company expects to establish meaningful market presence before launching its expanded model range. India's EV sector has seen accelerating investment and competition as major automakers and startups compete for market share in the country's rapidly growing electric vehicle segment.