ION Energy has closed an undisclosed amount of funding to develop battery storage for electric vehicles in India. The angel investors include executives from Salesforce and Credit Suisse.
The Mumbai company claims its product will help cars charge faster and improve distance range and acceleration time.
There is a big push in India for electric vehicles, amid intense smog and pollution in its top cities. The government’s plan to phase out gas-powered cars by 2030 has drawn international investors and development agencies to India’s clean-tech startup scene. Royal Dutch Shell recently launched a clean-tech accelerator in India.