Earth Energy to launch 6 new electric vehicles in 2021: First EV to launch this month
Earth Energy states that it will be producing EV batteries in India, and hence lower the prices on its EVs significantly since battery packs are the most expensive component in an electric-powered vehicle.
Earth Energy EV, an electric vehicle startup, has announced its plans to launch six new commercial and non-commercial vehicles in the market this year. The brand promises 96% localisation for its upcoming products in the B2B and B2C segments. Earth Energy states that it will be producing EV batteries in India, and hence lower the prices on its EVs significantly since battery packs are the most expensive component in an electric-powered vehicle.
The startup has not revealed yet which of its products is set to launch in the last week of January, however, we did find some teasers of electric motorcycles, including a cruiser-style motorcycle, on its social media handles. So, the 26th of January might just see the launch of India’s first electric cruiser.
The brand, however, is also into electric commercial vehicles which are also part of its product launch plan this year. The electric mini-truck offers a SkateBoard platform that can be adapted to multiple body-types. Earth Energy EV also showcases electric scooters on its website, for example, Glyde which boasts a 100 km range and 2.5 hours to a full charge.
The company has a manufacturing facility in the outskirts of Mumbai and is actively working on the development of a range of open-ended customisable electric vehicles and EV chargers. Earth Energy vehicles are compliant with all the public charging stations being set up by both the government and private players.
With the manufacturing plant located in Mumbai, the company aims to facilitate the EV market with 4,500 units of electric vehicles this year. Earth Energy EV is also in the advanced stages of setting up a Greenfield manufacturing facility in the Western State with an annual capacity of 65,000 Units. The company is expecting to see a CAGR of 23% YoY in its production figures.
Earth Energy has previously raised investments from private investors and has been a part of the SmartCity Dubai Accelerator Programme in 2018. The funding was used to hire critical talent, strengthen the sales network, and make the vehicles production-ready via enhanced OEM relations and a strong supply chain.
Source : financialexpress
