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Evolet India to invest Rs 500 cr in Telangana

Monday, 05 Oct 2020
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Electric vehicle (EV) maker Evolet India, part of Rissala Group, is keen on setting up assembly and manufacturing facilities in Telangana.

The company is planning to create an assembly plant for electric two-wheelers to cater to both domestic and export markets. There is also scope to set up product lines for ancillaries such as EV motors, controllers and batteries.

The company wants to establish a lithium-ion battery manufacturing facility. The decision will be taken by Q1/2021. It will make an investment of Rs 500 crore.

The company has completed design and engineering of e-buses and is now in the process of building and developing state-of-the-art buses that will reduce payloads by 45 percent.

The company currently operates a plant at Manesar, Haryana, with a built-up area of 1.4 lakh sq ft with an installed capacity of 3.5 lakh two-wheelers per annum. Evolet is also looking to acquire manufacturing units in India for three-wheelers and four-wheelers.

The Gurugram-based company with its first showroom in Madhapur plans to expand its dealer network across Telangana.

Evolet India is currently strengthening its portfolio comprising electric scooters, motorcycles, mopeds, quad bikes, jeeps, autos and buses.

The company is aiming for 150 touchpoints pan-India by December 2020.

Rissala Group, which also has interests in the aerospace sector, is seeing the possibility of getting into production of unmanned aerial vehicles (UAVs) in Telangana.

 
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