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Hindustan Motors Plans to Enter the Two-Wheeler EV Space in India
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Hindustan Motors has partnered with a European brand and plans to enter the two-wheeler EV space in India by 2023
Hindustan Motors has partnered with a European brand and plans to enter the two-wheeler EV space in India by 2023.
Hindustan Motors, which for many years produced the recognizable Ambassador in India since its foundation in 1942, according to a report by Gaadiwale, is reportedly entering the EV market with electric two-wheelers.
With businesses like Ola Electric, Hero, Bajaj, Ather, and TVS operating in the market for electric two-wheelers, India has been attracting investment. According to rumors, a secretive European corporation has partnered with the venerable old automaker.
The manufacture will take place at the now-defunct Uttarpara plant of Hindustan Motors, which is located close to Kolkata. The new JV will receive financial support from an investment of Rs 600 crore, according to HM director Uttam Bose. In addition, Hindustan Motors will supply the necessary real estate, a renovated facility, and a distribution network.
According to the plan, both electric two-wheelers and electric cars will be developed, but the two-wheelers will be developed first. Hindustan Motors and its partner are now negotiating investments, and a number of announcements may occur as early as February 2023.
Product launches, particularly for electric two-wheelers, may take place as early as the end of 2023.
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