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German EV Manufacturer, Next.e.GO, Successfully Closes $ 57 M Series C Funding Round

Next.e.GO Mobile SE, the German Electric Vehicle manufacturer company producing affordable, purpose-built and sustainable urban electric vehicles based on its disruptive technologies and unique microfactory, announced today that its majority shareholder, nd Industrial Investments B.V., part of international private equity company nd Group B.V. has successfully closed a series C equity funding round of $ 57M for the company.

The funding round, participated by existing investors as well as new ones, enables e.GO to accelerate its effort in transforming the urban electromobility, by enhancing the production of its e.GO Life platform, driving the development of additional models and offering unique value adding features to the customers including the battery swap.

The funding round also highlights the investors' confidence in e.GO's successful trajectory and the progress it has made in becoming one of the only western independent Battery Electric Vehicle companies that are actually in production and delivering cars to customers.

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"We are very pleased with the success of the Series C funding but, above that, with the vote of confidence from our investors. The team at e.GO is determined, more than ever, to drive the much-needed transformation to carbon-free urban mobility by offering an electric vehicle like no other." says Ali Vezvaei, Chairman of the Board at Next.e.GO Mobile SE.

Source: Next.e.GO Mobile SE
Date: Aug 26, 2021

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