Himadri Group forays into e-mobility

PTI, Dec 2, 2020, 10:58 AM IST

Kolkata: City-based Himadri Group, primarily engaged in speciality chemicals manufacturing, on Tuesday announced its decision to foray into e-mobility, a company official said.

The group, with an annual turnover of around Rs 2,000 crore, has formed a new corporate entity Motovolt Mobility Private Limited, and will invest Rs 100 crore for the manufacture of battery-powered e-cycles, he said.

The new corporate entity will roll out products in a phased manner all over the country. The e-cycles have been designed to promote modern-day environment-friendly transportation, founder of Motovolt Mobility Tushar Choudhary said.

Under this project, e-cycles will be connected by the Internet of Things (IoT) powered by lithium-ion batteries.

Choudhary said that the products will be available both in B2B (business conducted between companies) and B2C (business-to-consumer) segments.

It will be available at exclusive stores and online channels. Motovolt will locate its manufacturing and testing centre in Kolkata and design and engineering unit in Bengaluru.