Palki Motors Founders: Driving Bangladesh's Electric Vehicle Revolution
Palki Motors, Bangladesh's pioneering electric vehicle (EV) manufacturer, was founded in October 2022 by Mustafa Al Momin and Jahid Hasan. The company focuses on producing affordable, eco-friendly electric vehicles tailored for commercial drivers, aiming to revolutionize urban mobility and reduce environmental impact.
Founders' Background and Vision
Mustafa Al Momin, an electrical engineer with over seven years of industry experience, serves as the CEO of Palki Motors. His vision is to empower underprivileged drivers by providing them with affordable electric vehicles, thereby reducing carbon emissions and promoting sustainable transportation.
Jahid Hasan, the COO, brings extensive expertise in sales and marketing, with a background in multinational corporations. His commitment lies in advancing Bangladesh's standing on the global stage through sustainable transportation solutions.
Company Growth and Investment
Palki Motors has made significant strides since its inception. The company has been accepted into Accelerator Asia's Cohort 10, receiving a $100,000 impact investment to scale up research and development, enhance production capacity, and expand its reach across Bangladesh.
Additionally, Palki Motors has raised $260,000, accounting for 57% of its $450,000 pre-seed funding goal. This funding aims to scale production to 20 units per month, reduce delivery times, and enhance vehicle design.
Valuation and Net Worth
While specific net worth figures for the founders are not publicly disclosed, the company's valuation and funding achievements indicate a growing financial footprint. With a production capacity poised to scale and a projected 5X return by Series A in December 2027, Palki Motors is on a trajectory toward significant financial growth.
Future Outlook
Palki Motors aims to lead the transition towards sustainable mobility in Bangladesh and beyond. With plans to deliver 10,000 units of commercial passenger cars and electric pickups annually, the company is set to make a substantial impact on the transportation industry.
The founders' dedication to innovation, sustainability, and social responsibility positions Palki Motors as a key player in the global shift towards electric transportation.
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