Homegrown mobile phone company Micromax is reportedly gearing up to dive into the Indian electric vehicle segment.
Micromax has been silently working in the e-mobility segment for last two years. This will be solo venture of Rahul Sharma who once tasted success as one of the five co-founders of Micromaxi. According to TOI Sharma is ploughing nearly Rs 500 crore of his wealth into the new venture.
The company is planning to launch an electric motorcycle with a range of 150 kms as its first product in the market.
Sharma speaking to the publication said “I have done my homework in the EV space, and now intend to disrupt the two-wheeler industry. The idea is to create a motorcycle blockbuster — similar to successes such as Hero’s Splendor and Bajaj’s Pulsar — but with an electric product. This will not only be an environmentally-efficient product, but will provide hugely low running-cost to the users. ” However, he didn’t reveal the name and expected price of the product.
The motorcycle will be produced out of a 1-lakh square feet factory that his company has set up in Manesar.
The Indian firm has put up a 45-member R&D team to work on the product and its viability and feasibility for India. The company is planning to integrate EV Control Unit made in India, while the battery and two-wheeler motor will be imported from China says the report.
Delhi will be the first market for the company and will start sales around June-end. The sales model will comprise both franchisee outlets as well as online platforms. The company is also planning to expand beyond Delhi soon.
Speaking about the mushrooming competition in the EV segment, Sharma said he had managed to set-up and flourish Micromax even when there was stiff competition, so will use the same expertise to make its own space in this segment too.
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