German EV startup Magnum Pirex to invest $15.5 mn in India
German electric vehicle (EV) startup Magnum Pirex is planning to invest around $15.5 million (nearly â¹100 crore) to set up a manufacturing base in Andhra Pradesh. The startup's CEO Hubert Maencher recently met Andhra Pradesh Chief Minister N Chandrababu Naidu to discuss the same. The startup has reportedly proposed to supply battery-powered vehicles below the $15,590 (â¹10 lakh) price range.