SAR Group to Take a Position as Much as ₹1,500 crore in E-bike Foray – EQ Mag Pro
The firm sells electrical scooters for the supply phase and just lately launched its first scooter for customers. The firm has invested round ₹300 crore thus far in creating these fashions and establishing a producing unit at Manesar in Haryana, in accordance with Rakesh Malhotra, the founding father of the SAR Group.
The Manesar plant presently could make as much as 150,000 models a 12 months. Last week, Lectrix opened its first showroom. Now it appears to ramp as much as 150-160 retailers by the top of this fiscal 12 months, Malhotra advised ET in an interview. By then it desires to ramp up gross sales to over 5,000 models a month.
Following that, within the coming 18-24 months, the corporate is seeking to come out with a spread of 4-5 scooters, he stated. All the fashions will probably be focused at mass-market commuter segments.
The firm’s two fashions on sale have certified for subsidies below the federal government’s FAME-India electrical automobile (EV) promotion scheme, which has helped the corporate worth them round ₹70,000-80,000.
The SAR Group already makes battery packs for different EV producers at its Livguard enterprise. Now Lectrix would be the anchor buyer for the battery maker and in addition assist the corporate in expertise improvement, Malhotra stated.
The firm has additionally been engaged on creating its personal drivetrain over the previous two years, in accordance with Malhotra. It has a 95-member design and improvement group, he stated. The firm additionally has tied up with a motor producer who has a co-located facility at its Manesar plant. “Except cells and magnets, we have localised everything,” he stated.
The SAR Group had additionally developed the Luminous model which is understood for its house inverters amongst different merchandise. The group offered Luminous to Schneider Electric in 2011.
Source: PTI
