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HomeBUSINESSAutomobilesEeVe to invest Rs 1000cr in two-wheeler EV segment

EeVe to invest Rs 1000cr in two-wheeler EV segment

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India’s fastest growing Electric Vehicles(EVs) manufacturer, EeVe India plans to invest up to Rs 1000cr in the next 2 years towards R&D, developing new products in electric mobility solutions, improving existing manufacturing facilities, charging infrastructure, localization of parts, network expansion and brand building to capture 10% market share in the electric vehicle segment in India and strengthen its presence overseas. The Indian e-two-wheeler market is expected to hit 4.5-5 million by 2025.

Aiming to address the environmental concerns, be economically viable and achieve carbon neutrality, EeVe India has forayed into the futuristic high-speed electric vehicle category with the launch of a new product – EeVe SOUL which was unveiled in New Delhi by Sudhendu Jyoti Sinha, Adviser (Infrastructure Connectivity- Transport and Electric Mobility) Transport, NITI Aayog and Abhijeet Sinha, National program Director – Ease of Doing Business and Project Director National Highway for EV.

Addressing the media at the event, Abhijeet Sinha said, “Reducing oil-import bills and carbon emission is the utmost priority for each country after recently committed timelines at the COP26 summit. India will bring its economy’s carbon intensity down to 45% by 2030 as envisioned by PM Modi at COP26. Mobility has to largely contribute to this reduction and I am glad to add EeVe SOUL to this impetus with 50000 EV units in the next 2 years with 150 dealers.

Speaking at the launch Harsh Vardhan Didwania, Co-Founder & Director, EeVe India, said, “We have a legacy of 80 years in the mobility industry with the largest state-of-the-art operational manufacturing plant in the country. Last fiscal, we sold 15, 000 units of our low-speed models and we are confident of achieving the target of another 50,000 units in the next 2 years. For this, we are working on strengthening and expanding our network system from existing 150 dealers& sub-dealers to 300 and mark our pan-India presence.”

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With the recent disruption due to environmental compulsions, awareness and economic viability, the EV segment is set out for a complete transformation. So, as a company, we feel this is absolutely the right time for us to take a big stride forward, and drive the change to stay ahead of the curve,” Didwania added. The company is also working on increasing the annual production capacity from the existing 3 lakh to 5 lakh units.

EeVe SOUL, which will hit the roads from this New Year, is set to change the two-wheeler experience in the electric vehicles category. It is a fully loaded high-speed electric scooter featuring a top speed of 60 kmph, and a range of over 120 km in a single charge. This new addition is IoT enabled and has features that make the game a few notches higher. SOUL comes with an anti-theft lock system, has GPS navigation, USB port, keyless experience, reverse mode, central braking system, geo-tagging and geo-fencing.

With a three-year warranty on the vehicle, EeVe scooters are powered with advanced Lithium Ferrous Phosphate (LFP) swappable & detachable batteries which enable the user to conveniently charge the battery indoors. The scooter will take around 3-4 hours to charge from 0-100 and will have a top speed of 60 kmph, Didwania added.

EeVe’smanufacturing unit has state-of-the-art European technology complying with eco-friendly and sustainable manufacturing practices. This plant provides an integrated ecosystem for manufacturing and testing, vehicle assembly, and vehicle end of line testing having a present production capacity of 3 lakh units per annum.

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EeVe India is a part of Bharat’s Group having a legacy of 80 years in the automobile and logistic industry. Launched in 2019, EeVe India has recently emerged as the most prominent and fastest-growing player in the EVs segment with a presence in over 100 cities across 20 states and a strong network of over 100 dealers and more than 50 sub-dealers. EeVe India has the largest operational manufacturing unit in the country located in Bhubaneswar, Odisha with 2000 team members committed and motivated to contribute towards the mission of pollution-free mobility solutions for generations to come in India.

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Taazakhabar News Bureau
Taazakhabar News Bureau
Taazakhabar News Bureau is a team of seasoned journalists led by Neeraj Mahajan. Trusted by millions readers worldwide.


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