HM-European co JV likely to launch two-wheeler EVs by next year
Hindustan Motors (HM), the erstwhile maker of the iconic ‘Ambassador’ cars, expects to set up a new joint venture with a European partner to manufacture electric two-wheelers by next year, a senior official said.
It might look at making electric four-wheelers at a later date, he said.
Financial due diligence of both the companies will start in July, which will take two months, after which the technical aspects of the joint venture will be looked into and this will take another month, Director of Hindustan Motors, Uttam Bose, told PTI.
“Only then, the structuring of investments (will be decided) and the new company formed, and this is expected to be completed by February 15, he said.
