Gensol Engineering Ltd. deal information has not been given. It hasn’t even revealed which startup it is acquiring, but a few things have come to the fore. The company’s Managing Director Anmol Singh Jaggi has said that we clearly believe that an electric vehicle of Rs 5-6 lakh is needed. It is clear from his statement that the company aims to introduce an electric vehicle in this price range.
The company has told investors that it is aiming to start production from Pune from the first quarter of next year i.e. 2023. Initially 12,000 cars will be produced every year. The company is also hiring around 150 automobile engineers and designers. money control key Report According to the company, the company will invest Rs 250 to 400 crore in several phases. There is also a target of setting up an R&D center for technology development.
Anmol Singh Jaggi has said that the acquired company is still working on a prototype hatchback that ‘will compete with compact hatchbacks like the WagonR’. The electric car that the company is aiming at will have a range of 200 km on a single charge and can be fully charged in just 2 hours.
The target that the company is pursuing does not seem impossible, because the cost of the world’s cheapest electric car is around 3.25 lakh rupees. It is manufactured and sold by Wuling Hongguang Mini EV Company in China. At the same time, the cheapest electric car on Indian roads is the Tata Tigor, which costs around Rs 12.4 lakh.