Finnfund to acquire a 12.82% stake in Fortum Charge & Drive India.

Finnfund, a private equity firm, agreed to acquire a 12.82% stake in Fortum Charge & Drive India, a charging network for electric vehicles. Financial terms are not disclosed. "This is our first step into the e-mobility market and we are excited to be one of the forerunners in providing cleaner and cheaper travel alternatives in developing countries. We see this type of service as crucial for curbing pollution in big cities and we are happy to support Fortum in bolstering its efforts in setting up electric vehicle charging infrastructure in India. With the company’s significant local presence, backed by the great market potential of EVs in India, we look forward to this collaboration," Helena Teppana, Finnfund Associate Director.