With the changing trends in the automobile sector, space for an electric vehicle is growing at a much faster and prominent pace. With such a golden pool of opportunity for many companies who are willing to set their foot in the Indian market.
There’s been a lot of surprises and technological advancement in electric two-wheeler makers in the last five years and major motorcycle companies like Hero Motocorp, TVS and Bajaj Auto have also invested in the Indian market for their successful start-up. With the rivalry so intense, every company tries to give the most of their value to establish in the Indian market.
So the company which is in the line to Join in next the market is China-based Dao EVTech which is setting up its production facility in Hyderabad with a plan to begin operations from February 2020. According to sources, we got to know that the company will invest $100 million in India.
In the latest interview with Michael Liu, the Chairman and CEO of DAO EVtech said that the company is in talks with the Andhra Pradesh government and the government is also showing interested in working with the company.
The early-stage will begin with creating a manufacturing plant in 200 acres. As per the reports submitted by the company to the company, the first assembly line in a couple of months and then the production unit will start within no time.
The company is not new to such challenges, the company has gained 25 years of work experience in the global electric motorcycles industry, and this fact gave the confidence to the company to enter into the highly competitive zone of the Indian market with three objectives.
As told by the spokesperson of the company, because the capital of the country is highly polluted and needs high-quality air to breathe, the company is trying and finding technological solutions with it’s upcoming vehicles and automobiles.
Reports suggest that the company will be starting operations in Andhra Pradesh and Telangana with just 25 dealerships in the initial phase and is planning to open about 300 dealerships in a year, further expanding the company’s outreach to markets like Delhi-NCR.