Tuesday, November 11th, 2008
BSA motors today univeiled series of scooters and officially made its foray into the robust electric vehicle market. The new scooters - Smile, Diva, Street Rider, Roamer and Roamer Plus will cater to the need various section of the people. The eScooters are manufactured at the BSA Motors new plant in Ambattur, with an investment of Rs.200 million for the first phase.
The Ambattur plant has an initial production capacity of 150 eScooters a day which can be ramped upto 300 units per day as and when required. The first batch of eScooters would be rolled out from Chennai on 10th November 2008.
Commenting on the occasion, Mr. M M Murugappan, Chairman, Tube Investments of India said, “We see our entry into the electric two wheeler market as a logical extension of our current business, from bicycles to electric two wheelers. The eScooters is presently a Rs.450 crore market in India and the industry is expected to double in a year’s time. BSA’s foray into the eScooters category helps us to expand our portfolio in the two wheeler market. He also added, “BSA eScooters will undoubtedly be the next big success from TII.”
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Saturday, November 1st, 2008
The manufacturer of the electric car Reva is planning to increase the production of their car. Maini Auto is planning to increase the production six times to meet the growing demands in the domestic as well as the overseas market. The company plans to open a new plant in 2009 to hike its manufacturing capacity to 30,000 cars annually.
Reva produces the electric car, G-Wiz, sold in the UK market. There has been a considerable rise in the demand of electric cars in the overseas market which has led the company to increase their production capacity. According to the Chief Technology Officer, Reva, Chetan Maini, the company aims to produce as many as 36,000 electric cars annually. It currently has a manufacturing capacity of producing 6000 cars per year. It aims to set up another plant by 2009 of a capacity to produce 30,000 cars.
The company presently supplies G-Wiz electric car to the UK distributor, GoinGreen. It currently has 2800 electric vehicles on road in the UK. The UK distributor is expecting a huge increase in the demand for electric cars in the next few years. The rate at which the market shifts could vary depending on oil prices, but there are a huge number of consumers who want to be green if they don’t have to pay a premium,” said Maini.
One of the main reasons for the rise in demand for such cars is that it attracts government incentives - e.g. electric vehicles get free parking in London. Moreover, certain government regulations like a ban in some Chinese cities on non-electric scooters, also have led to an increase in demand for electric cars.
[via: cartradeindia]
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Saturday, October 11th, 2008
Luminous Power Technologies has announced that it will be launching an electric scooter - the Lectrix - in November this year. LPT, which aims to sell in excess of 20,000 units of the Lectrix scooter by mid-2009, says it has spent two years on R&D and has already completed extensive testing of this e-scooter. According to Rakesh Malhotra, LPT’s founder and CEO, his company’s scooters will be priced between Rs 22,000 to Rs 35,000.
LPT is aiming at setting up 50 dealerships across the country, 36 of which are, supposedly, already in place. ‘Presently, we would be focusing our business in North India only. Most of the outlets are opening next month and they are located in all major cities in North India like Delhi, and also in smaller cities like Hisar, Karnal and Meerut,’ says Malhotra.
The LPT Lectrix will be produced at the company’s manufacturing facility in Gagret, Himachal Pradesh. ‘We are targeting an overall Rs 1,800-2,000 crore revenue by next fiscal, of which, I hope, around Rs 1,000 crore would come from our e-bike business,’ concludes Malhotra.
[Via: indiaautomotiveblog]
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Friday, August 1st, 2008
Mahindra & Mahindra Ltd. (M&M), one of India’s leading automotive companies, today announced that its Board of Directors has approved the acquisition of business assets of Pune-based Kinetic Motor Company Ltd. (KMCL). The acquisition will be done through a New Company to be formed.
The consideration for the acquisition is a sum of Rs. 110 crores (subject to closing due diligence) plus 20 percent stake to KMCL in the New Co. M&M will hold the balance 80 per cent of the equity. The deal will enable Mahindra to design and market a range of scooters, value engineered motorcycles and high-end motorcycles for the Indian and global markets, helping it establish a robust, end-to-end two-wheeler business in every segment of the industry.
Ms. Sulajja Firodia Motwani will be a Non-Executive Director in the new company. Within the overall two-wheeler strategy, scooters will form M&M’s entry point into the Indian market and will be an important part of the company’s overall two-wheeler product portfolio. There are several macro environmental trends which make the scooter market especially attractive to Mahindra.
These include a younger, more affluent customer base with a significant number of empowered women and increased scooter demand in tier-2 cities and small towns. M&M is strongly positioned to cater to this demand, given the company’s significant presence and brand equity in these markets.
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