KSL Cleantech to invest Rs 200 crore to increase electric mobility

KSL Cleantech is planning to invest around Rs 2000 crore in the next three years to develop electric two- and three-wheelers and expand manufacturing capacity besides sales and marketing of the products

According to a top company official of the Kolkata-based company, the firm, which has been primarily into the solar power space for the last 10 years, is also in talks with global firms for partnering in its electric mobility venture in areas including product development and supply of components such as lithium ion batteries.

Speaking to PTI, KSL Cleantech Ltd Managing Director Dhiraj Bhagchandka, said, “We have drawn up a plan for three-year horizon. We plan to invest around Rs 200 crore across manufacturing, product development, marketing and branding. It will also include development of essential components, which has been now prescribed by the government to be indigenised.”

The company, which has been selling its electric three-wheelers under the Electeca brand, primarily in north and central India, has a production capacity of around 10,000 units annually at its assembly unit near Kolkata.

Dhiraj added: “With the latest impetus on electric mobility across the country by the government, electric vehicles happen to be a natural extension of our business. It is time for us to also get into electric two-wheeler space.”

Image Credit : media.licdn.com

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