Bharat Alt Fuel To Establish A Unit At Tamil Nadu With An Investment Of Rs 250 Crore To Make Electric Vehicles, Batteries, And Motors

0
64
BAF logo

Estimated Reading Time: 1 minutes

Bharat Alt fuel, which is a company that focuses on electric mobility and alternative fuel technology, will establish a greenfield unit at Tamil Nadu with an investment of Rs 250 crore to make electric vehicles, batteries, and motors. It is expected that the integrated facility, which covers 40,000 sqm in Krishnagiri, will begin production in 2023.

“BAF strives to be a catalyst of change wherever it’s needed. It makes perfect sense that electric two-wheelers are being brought to one the largest vehicle markets in the world. All the necessary components including motors and batteries will be made in our new factory.

“Establishing a global manufacturing footprint is a practical, natural step and enables us to grow our brand, scale our business, and address climate change through inspiring sustainable transportation,” its executive director Sorubh Kumar Bharti said.

He stated that construction of the plant is anticipated to begin in the fourth quarter of 2022-23 and that the first electric scooter would be revealed during Diwali in 2024.

ALSO READ  Chase To Pilot Public Fast EV Charging Stations Across 50 Of Its U.S. Branches

“Of the 40,000 square metres, around 10,000 square metres will be utilised for motors and later expanded to batteries…We will be scaling up the production at the facility (gradually),” he said.

Bharti said that the integrated facility will be made into a battery and motor manufacturing unit. This will make the product localised at 80%.

“The investments will be funded through internal accruals…We plan to unveil the product by the Deepavali festival in 2024. Initially, we will have dealerships in Chennai, Bengaluru and Hyderabad,” he told.

He stated that the plant would employ 1,000 people and can be scaled up to 3,000 after production is increased. He stated that the vehicles would be sold on the domestic market, and then shipped to ASEAN, Africa, and other countries.

He said that Bharat Alt fuel will own the new manufacturing plant and it will allow them to meet increasing domestic and international demand for electric cars.

ALSO READ  Svitch MotoCorp To Invest Rs 100 Crore To Develop Electric Bike

He said that the company was in the process to sign some international technological partnerships, which will allow the company to bring top-quality products to the domestic marketplace.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.