Raymond mulls EV options
The auto component division of Raymond is working on a strategy to tap the opportunity in the market for electric vehicles. “The EV space is a work in progress… we are looking at the opportunities,” Gautam Hari Singhania, managing director of the Raymond group, told The Telegraph.
The auto component division focuses on ring gears, flexplates and water pump bearings. “The segment has performed well,” Singhania said. Battery swapping is an option in electric vehicles.
He said the group is looking to expand the real estate and FMCG businesses even as it grows the garments unit in the international markets.
