Indian company invests $ 3 million in electric vehicles
Kolkata-based KSL Cleantech plans to invest about 200 million rupees (almost US $ 3 million) over the next three years in the development of electric two- and three-wheeled vehicles and expansion of production capacity in addition to sales and product marketing, said a senior company official. >
The company, which has been developing solar energy for the past 10 years, is currently in talks to partner with a number of global firms to implement its plan to produce electric vehicles, including product development and supply of components such as lithium. ion batteries.
“We have developed a plan for a three-year period. We plan to invest about Rs 200 million in manufacturing, product development, marketing and branding, as well as key components that are currently prescribed by the government as a priority, ”said Diraj Bhagchandka, Managing Director of KSL Cleantech Ltd.
KSL Cleantech sells its electric three-wheelers under the Electeca brand, primarily in northern and central India. The company has a production capacity of around 10,000 units per year at its assembly unit near Kolkata.
“With the government recently stimulating the production of electric vehicles, ... it’s time for us to start developing the electric two-wheel space,” he added.
According to Bhagchandk, the sales of Indian electric two- and three-wheeled vehicles are currently around 8 lakh (or 800,000) units per year.