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Hindustan Motors is looking at the possibility of exporting its electric vehicles to foreign markets. “A memorandum has been signed on electric vehicles. This tie-up will allow for the export of the vehicles. Eventually, assembling might also be considered,” a source close to the developments said.
Hindustan Motors, once the makers of the Ambassador car, announced that it had entered into an MOU to expand the EV domain beyond the border to increase the production of eco-friendly electric vehicles. However, the company did not disclose details about the MoU.
Sources indicate that the company will likely provide more details about the tie-up within the next few days. The company is unable to provide details about the MoU at this time. The source said that the company will release more information once the board of the partner firm approves it.
Hindustan Motors was India’s first carmaker. It had previously signed an MoU with a European auto company that is involved in the EV segment. Initial plans are to launch two-wheelers. If the project succeeds, then four-wheelers will be made.