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Anand Group is planning to invest $100-150 million to electric vehicles. The company has several partnerships with companies from the UK, Japan, Europe, and others.
Anand Group plans to add electric autos, motors, and charging systems for electric vehicles. It has begun looking for partners across the world for this investment.
Anand Group’s President, Sunil Kaul said, “We are on the lookout for acquisitions and partnerships. We are in the middle of discussions with multiple companies, which will help us accelerate our penetration into the future mobility or clean mobility space. We are going all out to participate in the fast transition electric two and three-wheeler space. Hence, we are preparing ourselves by entering into partnershios, getting into engineering of parts testing and also into sourcing – to generate a significant part of our total business going ahead.”
“Our target is to generate $500 million worth of business from future mobility in the coming three to five years. By then the group turnover would have doubled to $3 billion by 2026-2027,” concluded Kaul.