Evolet To Invest Rs 450 Crore For E-Two Wheelers And Buses

- Advertisement -
- Advertisement -
  • The company aims to reach a sales target of 1,000 units a month for e-two wheelers by the end of this financial year
  • Evolet informed it will have 20 dealerships across Maharashtra by March 2020

Evolet, the EV arm of the Gurugram-based Rissala Electric Motors said that it is investing Rs 450 crore for e-two wheelers and buses, including Rs 150 crore in the two-wheeler business to support its pan India operations and production. It also said it aims to open over 100 dealerships in the country and sell 1,500 vehicles per month by March next year.

In a release, the company also said that it will have 20 dealerships across Maharashtra by March 2020 including at Pune, Nasik, Nagpur, Aurangabad, Satara, Kohlapur and Jalgaon. Presently, the company has three production facilities in Haryana, Hyderabad and Chennai.

Prerana Chaturvedi, executive director, Evolet said, ” In line with our objective to establish a nationwide presence, our electric-scooter venture, Evolet aims to open 100 plus dealerships across India by March 2020. We are targeting sales of around 150 units per month per dealership.The company has finalised its dealerships in Maharashtra, Telangana, Tamil Nadu, Gujarat, Madhya Pradesh, Uttar Pradesh, Bihar, Punjab, Chandigarh, Haryana, Rajasthan besides Nepal and Bangladesh by the fiscal end.”

- Advertisement -

Sales target of 1,000 units a month

Recently, the company had launched its first showroom in Gurugram. It has also launched its e-scooter with a 65-km charging range and a top speed of 25 km per hour. This e-scooter also had an option of swappable batteries.

The release from the company also said that the company plans to expand its dealership network in Maharashtra by adding around 5-6 dealerships per month from next fiscals. It added that the company is focusing on the cities where the two-wheeler traction is maximum and it aims to reach a sales target of 1,000 units a month by the end of this financial year.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Jitendra EV Plans Sodium-Ion E-2Ws In Two Years

0
Sodium-ion batteries primarily use table salt and forest industry biomass, making them more readily available domestically. Jitendra New EV Tech, an electric two-wheeler manufacturer based...

Important Sectors

Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Jitendra EV Plans Sodium-Ion E-2Ws In Two Years

0
Sodium-ion batteries primarily use table salt and forest industry biomass, making them more readily available domestically. Jitendra New EV Tech, an electric two-wheeler manufacturer based...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...