Himadri group forays into e-mobility

City-based Himadri group, primarily engaged in speciality chemicals manufacturing, on Tuesday announced its decision to foray into e-mobility, a company official said. The group, with an annual turnover of around Rs 2,000 crore, has formed a new corporate entity Motovolt Mobility Private Limited, and will invest Rs 100 crore for the manufacture of battery powered e-cycles, he said.

The new corporate entity will roll out products in a phased manner all over the country. The e-cycles have been designed to promote modern day environment friendly transportation, founder of Motovolt Mobility Tushar Choudhary said.

Under this project, e-cycles will be connected by Internet of Things (IOT) powered by lithium ion batteries. Choudhary said that the products will be available both in B2B (business conducted between companies) and B2C (business-to-consumer) segments.

It will be available at exclusive stores and online channels. Motovolt will locate its manufacturing and testing centre in Kolkata and design and engineering unit in Bengaluru.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)