Kolkata-based KSL Cleantech to launch new electric two- and four-wheelers in India this year
KSL Cleantech sees a humongous opportunity in EV ownership in India which is expected to balloon to about 125 million by 2030, and plans to 10 new products in various electric vehicle segments.
Kolkata-based KSL Cleantech Ltd has said that it will launch 10 new electric vehicles in two-, three-, and four-wheeler segments within the next 12 months. The company will be focusing on electric two- and three-wheelers, and small commercial & passenger vehicles in the coming months. Currently, the company has few models of three-wheeler electric vehicles which are being sold across India through a large number of dealers and channel partners.
KSL sees a humongous opportunity in electric vehicle (EV) ownership in India which is expected to balloon to about 125 million by 2030. The company plans to launch 10 new innovative variants of Electric Vehicles in two-wheeler and four-wheeler segment within the next 12 months. The group is developing various prototypes of mini passenger vehicles and is currently in discussions with a global technology partner in EV space.
The company also plans to manufacture these models in India in a phase-wise manner with an investment of more than Rs 200 crore.
In FY2019, total EV sales in India crossed the 7,50,000-unit mark and reached a total of 7,59,600 units. These include electric two-wheelers (1,26,000), electric three-wheelers (6,30,000) and electric passenger vehicles (3,600), which translates into electric two-wheelers witnessing triple-digit growth (130 percent) year-on-year (YoY).
“The entire market for land transport will switch to electrification in the near future. The government wants to bring in EVs swiftly to tackle pollution, and this gives us an opportunity to address a market looking for quality and performance and show an EV can outperform,” Dhiraj Bhagchandka, Managing Director, KSL Cleantech Ltd. said.
“We have set an ambitious target of entering the EV space in a big way. We are considering and evaluating opportunities for setting up a manufacturing facility in India.” Bhagchandka added.
The company has executed more than 10,000 solar installations across the country in solar based rooftop power projects, solar pumping solutions, and rural electrification.
Source: financialexpress
