SAR Group to buy a position in the E-bike forum for Rs.1,500 crore to enter into electric two-wheeler market.
The company sells electric scooters in the supply phase. It just launched its first scooter to customers. Rakesh Malhotra who was the founder father of SAR Group stated that the firm has spent around Rs.300 crore on these fashions so far.
Manesar could currently produce as many as 150,000 units per year. Lectrix recently opened its first showroom. In an interview, Malhotra stated that the company plans to increase its retail presence by 150-160 retailers in the next fiscal year. It plans to increase gross sales to more than 5,000 units per month by then.
He stated that the company is planning to release 4-5 scooters in the next 18-24 months. All fashions will be targeted at commuter markets.
Two of the firm’s fashions have been certified for subsidies under the FAME-India electric vehicle promotion program. This has made the company worth around Rs.70,000-80,000.
SAR Group has a Livguard enterprise that makes battery packs for different EV manufacturers. Malhotra said that Lectrix will now be the main buyer of the battery maker, and also help the corporation in its expertise improvement.
According to Malhotra, the firm has also been working on its own drivetrain for the past two years. He stated that the company has a 95-member improvement and design group. A motor producer has also been linked up with the firm, which has a co-located facility at their Manesar plant. He stated that everything has been localized, except cells and magnets.
SAR Group also developed the Luminous model, which is known for its house inverters and other merchandise. Schneider Electric was offered Luminous by the group in 2011.
