VEMO Announces US$250 Million Commitment Led by Vision Ridge Partners to Accelerate Clean Mobility Expansion

El Financiero

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Vemo, the startup that offers electric taxis through the Uber app in Mexico, raised $250 million in a bid for the transition to electric mobility in the country, mainly using Chinese technology.The company, based in Mexico City, received most of the funding in July from the US private capital firm Vision Ridge Partners LLC.How will Vemo use the new revenue it received?It plans to use that capital to expand its taxi fleet in the country's capital…

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Vemo announced an injection of $250 million to strengthen its robust and reliable recharge network, as well as deploying more electric vehicles on its different business lines in Mexico. Vemo announced that together with Vision Ridge Partners, they will invest this capital to boost the deployment of public recharge infrastructure and efficient cars.

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Vemo, Uber’s partner who offers taxis with electric vehicles in Mexico, announced that he managed to raise $250 million, mostly from Vision Ridge Partners, with a view to boosting electromobility in the country. Co-founder and CEO of the company based in Mexico City, Roberto Rocha, said the resources will be allocated to expand its fleet in the Mexican capital, Guadalajara and Monterrey. In addition to expanding the infrastructure for charging e…