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Svitch MotoCorp, an Ahmedabad-based electric vehicle maker, said that it will invest Rs 100 crore to develop CSR 762, which is due to go on the market this year.
According to a statement, the e-motorbike will cost around Rs 1.65 lakh and will receive a subsidy worth Rs 40,000 as per government orders.
Svitch Bike was founded in 2019 and currently offers four bikes: XE, XE+, MXE, and non-electric NXE. These bikes are manufactured at the Sanand manufacturing plant in Gujarat. According to the release, the company has a pan-India presence through a network that includes more than 130 distributors and dealers.
“Svitch MotoCorp plans to pump in over Rs 100 crore into the CSR 762 project in 2022,” the company said in the statement. Equipped with double 3.7 kWh Li-ion NMC (Nickel-Manganese-Cobalt) batteries, which are encased individually in “suitcase-like” carriers, the e-bike offers a range of 120 km on a single charge, the release said.
“We are extremely delighted to launch the CSR762. The launch comes after two years of rigorous development and multiple prototypes; the final design boasts features that are tailor-made for the Indian millennials,” said Rajkumar Patel, the promoter of Svitch MotoCorp.