Magnum Pirex to set up e-vehicles plant in India

Germany-based e-mobility and fuel cells major, Magnum Pirex, is planing to establish a manufacturing plant in India.

It produces Mia-family car; C-Zen ( 2-seater fun car); Metro-delivery truck and Magnum Courb, a sports car.

According to a BusinessLine report, the state government of Andhra Pradesh Government has given an in-principle nod for setting up a manufacturing unit around Visakhapatnam.

Chief executive officer and President of the Darmstadt, Germany-based company, Hubert Maencher met AP Chief Minister, N Chandrababu Naidu recently and made a detailed presentation, it recalled.

Quoting sources, it said the proposal is to produce battery-powered low-segment cars, low price and niche models not in comparison with the big players.

Image Credit : thehindubusinessline.com