Euler Motors, an electric vehicle company, announced its plans to invest
Rs. 200 crores over the next 12 months to develop advanced state-of-the-art
shop floors in order to drive up production capacity in its two existing
facilities across Delhi-NCR.
Euler Motors plans to increase its production capacity up to 3,000
vehicles units per month by mid-2022.
The company currently operates out of its
integrated R&D and Corporate office in Delhi which has a production
capability of 4000 vehicles per annum. It now plans to reach 35,000 units per annum by the end of FY23.
Within four months of its launch, the HiLoad EV from the Euler Motors
stable already has seen strong demand from both institutional and retail customers.
The enhanced production capacity will not only help to speed up delivery
against this current order book – but also to meet the projected demand from
Delhi NCR,Bangalore, Hyderabad, Chandigarh and Pune.
Euler Motors intends to place 8500 units on road by FY23. The company
will also set up an automated battery line for its patented liquid-cooled
battery pack technology. The new facility will set industry benchmarks in green
manufacturing and sustainable processes that speaks to the brand ethos.
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