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DAO EVTech to set up electric two-wheeler unit in India

Tuesday, 17 Dec 2019
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DAO EVTech, Chinese electric two-wheeler manufacturer, is planning to set up a manufacturing unit in the state of Andhra Pradesh.

It is planning to roll out its first electric model, a slow-speed two-wheeler by February 2020.

The company, which will initially assemble them from a temporary leased facility in Telangana and roll out e-vehicles, intends to make investment up to USD 100 million in the country over the next three years for setting up a new manufacturing complex near Krishnapatnam in Andhra Pradesh.

The company expects to infuse around USD 30 million in Phase-I and gradually raise these investments in a phased manner by creating its ecosystem.

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