Kolkata based KSL Cleantech Limited to launch electric scooters. The company has entered into the alliance with China’s company, Huaihai Holding Group, is an electric two and three-wheelers manufacturers.KSL Cleantech Ltd to launch electric scooters up to 10 units.
KSL Cleantech Ltd to launch electric scooters
The vehicles will be for the passenger and commercial purposes and will introduce in India in a phased manner in the next 12-36 months.
Huaihai KSL will invest Rs 200 crore
The Huaihai KSL will invest Rs 200 crore for the next 3 years to build manufacturing and assembly plant besides country-wide sales, vendor, development, distribution network, marketing, and brand building said the company.
KSL cleantech already has an existing assembly unit in Kolkata with a capacity of 10,000 units per month.
Plans to launch 10 electric two and three-wheelers
The joint venture is planning to launch up to 10 electric two and three-wheelers in India in the next 12-36 months. They are planning to sell around 100,00 units in the next 3 years.
The company already ventured into electric 4 wheeler segment in India and now plans to launch the segment and is expected to go up to about 125 million by 2030.
Managing Director, KSL Group
Dhiraj Bhagchandka, Managing Director, KSL Group, said, “The JV shall bring together the strengths of both the companies, harnessing the full potential of Huaihai’s manufacturing and R&D expertise combined with the experience, resources, knowledge of KSL Cleantech in India.”
Director, Huaihai Holding Group & GM
About the joint venture, Cathrine Xing, Director, Huaihai Holding Group & GM for International Business, said, “Huaihai Group has decades of experience and market leadership position in electric two and three-wheelers globally. Through our exclusive joint venture with KSL Cleantech, we now plan to leverage our expertise in design & development, sales & service of these vehicles fr the Indian market.”
Xing also added, “Huaihai has already ventured in the electric four-wheeler category in China and we will also explore this range of vehicles for the Indian market in future.”
KSL Cleantech Ltd also introduced more than 10,000 solar installations all over India in rooftop power projects, solar pumping solutions, and rural electrification.
Sales of EVs 7,50,000 to 7,59,600 units
In India, the sales of EVs crossed to 7,50,000 unit to 7,59,600 in FY2019 out of them electric two-wheelers counts for 1,26,000 units electric three-wheelers is 6,30,000 units and electric passengers 3,600 making the growth to 130%.
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