Elvo Pte. Ltd. announced that it will receive SGD 42,000,000 in an equity round of funding on April 26, 2024. The transaction will include participation from returning investor Zhongyeda Electric Co., Ltd. to retain the majority stake in the company.

The registered capital of the company is SGD 2,500,000. This has been approved in the Zhongyeda Electric Co., Ltd.'s 8th meeting of the 6th board of directors.