Monday, June 17, 2024
Google search engine
HomeNewsHero Electric to set up Rs 1,200 crore manufacturing unit in Rajasthan

Hero Electric to set up Rs 1,200 crore manufacturing unit in Rajasthan

[ad_1]


Electric will set up a greenfield manufacturing unit in Salarpur industrial area in . The Rs 1,200-crore facility will be spread over 170 acres and have an annual capacity of manufacturing two million units, as reported by Economic Times (ET). Electric is the largest electric two-wheeler maker in India.


The plant has been strategically planned within 100 km of Delhi Airport and close to automotive clusters in the National Capital Region (NCR), the company’s MD Naveen Munjal told ET.


The report added that the company has already taken necessary permissions from the government and the unit is likely to start manufacturing in 2023. By 2025, it aims to reach a production capacity of five million units per annum.


“The demand is robust; we have a substantial waiting list and we are resolving the supply chain challenges…We want to be ready with capacity, as the adoption of EVs gains momentum. The market, I believe, is going to move much faster than anyone could imagine. The awareness is growing, the cost of operation is lower,” Munjal was quoted as saying in the report.


Along with the new unit in Rajasthan, which will be equipped with modern equipment, the company has also installed a new manufacturing line in Ludhiana, Punjab. It will increase the production capacity by 250,000 units per annum.


Also, the company has formed an alliance with Mahindra & Mahindra to produce electric vehicles EV) at the Pithampur plant. It will also provide additional 250,000 units, the ET report added.


The charging stations will be installed in a few cities during the initial phase and later, extended to other markets.

[ad_2]

Source link

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments