on the success of its solar business, Kolkata-based KSL Cleantech Ltd.
(formerly known as Kirti Solar Limited), one of the largest and most
experienced solar photovoltaic companies in India, is gearing up to expand its
electric vehicle business in India.
company will be focusing on electric two and three wheelers, and small
commercial and passenger vehicles in the coming months. Currently, the company
has few models of three-wheeler electric vehicles which are being sold across
India through a large number of dealers and channel partners. Electric vehicle
(EV) ownership is expected to increase to about 125 million by 2030, according
to various studies.
company plans to launch 10 new innovative variants of electric vehicles in two
wheelers and four wheelers segment within the next 12 months. The group is
developing various prototypes of mini passenger vehicles and is currently in
discussions with a global technology partner in EV space.
company also plans to manufacture these models in India in a phased manner with
an investment of more than Rs 200 crore. In FY2019, total EV sales in India crossed the
7,50,000-units mark and reached a total of 7,59,600 units. This includes
electric two-wheelers (1,26,000), electric three-wheelers (6,30,000) and
electric passenger vehicles (3,600), which translates into electric
two-wheelers witnessing triple-digit growth (130 percent) year-on-year (YoY).
Bhagchandka, Managing Director, KSL Cleantech Ltd. said, “The entire market for
land transport will switch to electrification in the near future. The
government wants to bring in EVs swiftly to tackle pollution, and this gives us
an opportunity to address a market looking for quality and performance and show
an EV can outperform.”
have set an ambitious target of entering the EV space in a big way. We are
considering and evaluating opportunities for setting up a manufacturing
facility in India,” Bhagchandka added.
company has executed more than 10,000 solar installations across the country in
solar based rooftop power projects, solar pumping solutions and rural
electrification. KSL has one of the largest sales/installation networks backed
by an experienced team of design and integration experts.
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