Motovolt Mobility plans to invest Rs 200 crore next year for expansion
Electric two-wheeler maker Motovolt Mobility on Tuesday said it plans to invest Rs 200 crore next year on new products and to expand its manufacturing footprint and sales network.
The company, which on Tuesday launched its electric bike URBN in two variants priced at Rs 49,999 and Rs 54,999, is looking to set up satellite manufacturing units to be closer to the market.
“We have a plant at Kolkata now. We are looking to set up satellite manufacturing units in North and South India so that we can be closer to the market,” Motovolt Mobility Founder and CEO Tushar Choudhary told PTI here.
The Kolkata plant has an annual capacity of 50,000 units.
