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SHADO Group to pour USD 100 mn to manufacture electric three-wheelers

Friday, 16 Aug 2019
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SHADO Group is planning to invest USD 10 million (around Rs 70 crore) in its Pune factory, Maharashtra to manufacture electric three-wheelers, the first of which will be unveiled in Bengaluru, Karnataka.

The three-wheeler, branded as ERICK, is among the electric vehicle (EV) technologies based on affordable low-voltage, high-performance instantly-charged transportation mode.  

It is also planning to exports the three-wheelers to emerging economies. The company is in the process of starting production of 1,000 units per month from Pune in August 2019.  

The vehicles are designed and manufactured by Bengaluru-based Adarin Engineering Technologies following its merger with SHADO Group in 2017.

The company intends to partner small and medium-sized enterprises and entrepreneurs to build pan-India charging ecosystem.

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