Yamaha Motor Invests in Electric Scooters Startup World of River - Seeking Business Partnerships for the Indian EV Market -

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.