EMotorad, which is into manufacture of electric cycles, has announced to expand its production capabilities and set up an electric cycle gigafactory in Pune for an unspecified amount.
To be spread over 2,40,000 sq. ft in phase 1, the new facility to be operational in August 2024, will focus on manufacturing giga components, including the battery, motor, display, and charger. With an initial capacity of 5 lakh electric cycles each year, the gigafactory will meet the demand from India and the world market, the company said.
EMotorad said the electric cycle gigafactory would be constructed in four phases. Phase 1 operations are slated to begin in August this year.
Kunal Gupta, Founder & CEO, EMotorad said, “This factory marks a significant step forward for us to penetrate deeper into the European and North American markets, and we look forward to hosting clients from around the world.”
Founder and Corporate Strategist Rajib Gangopadhyay said, “This is a giant leap of faith which shows the strength of Indian manufacturing, its massive potential, and growth that’s borderless. Our journey across 4 years is just the start and we aim to inspire start-ups from all domains to dream big and firmly position India in the global landscape.”
The company said it had achieved 370% domestic growth last year and was the biggest exporter of electric cycles from India.
