KSL Cleantech partners with Chinese EV giant Huaihai: 7 electric vehicles for India showcased

KSL Cleantech already has an existing assembly facility for these vehicles in Kolkata with the capacity of 10,000 units/month.

launch 660 image

KSL Cleantech Limited announced its partnership with China’s EV major Huaihai Holding Group. The Joint venture comprises of product design, development, manufacturing, marketing, sales, finance, after-sales service and supply of components for electric vehicles in India. Under the new partnership, Huaihai KSL will invest up to Rs 200 crore in the future to set up manufacturing and assembly facilities in India. Moreover, the investment will cover sales, distribution network, vendor development, channel sales development, marketing and brand building across the country. The production of electric vehicles will begin in the year 2020 and will be ramped up in phases. KSL Cleantech already has an existing assembly facility for these vehicles in Kolkata with the capacity of 10,000 units/year. At the event, the two companies showcased three-passenger electric two-wheelers, a cargo electric two-wheeler, two electric three-wheelers for logistics and an electric passenger three-wheeler.

The JV will develop technology for a range of electric vehicles including mini, commercial and passenger vehicles. Huaihai KSL expects to launch up to 10 models in electric two and three-wheelers category based on the market response. The JV is looking at a consolidated figure of 100,000 pieces in the next three years. Huaihai KSL is also planning to work under FAME 2 scheme for electric mobility.

Dhiraj Bhagchandka, Managing Director, KSL Group said that the JV shall bring together the strengths of both the companies, harnessing the full potential of Huaihai’s manufacturing and R&D expertise combined with the experience, resources, knowledge of KSL Cleantech in India.

Cathrine Xing, Director, Huaihai Holding Group & GM for International Business, said that Huaihai group has decades of experience & market leadership position in electric two and three-wheelers globally. Through our exclusive joint venture with KSL Cleantech, we now plan to leverage our expertise in design & development, sales & service of these Vehicles for the Indian market. Huaihai has already ventured in the electric four-wheelers category in China & we will also explore this range of vehicles for the Indian market in future.

Huaihai KSL partnership will be appointing dealers and distributors across India. Also. it plans to open a chain of company-owned showrooms in various locations of India to expand the sales and distribution network. In the near future, Huaihai KSL will also look at operating its own fleet of vehicles as a service offering to major e-commerce and logistics companies in India.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.