Jindal Mobilitric Pvt., a subsidiary of Jindal Worldwide Ltd., said it will set up a electric two-wheeler manufacturing plant at Ahmedabad, with an annual production capacity of 2.5 lakh vehicles.
Jindal Group's electric mobility arm will also incorporate a fully automated battery manufacturing plant in-house to ensure "the highest level of battery safety, which will bring consumer trust on EV products and result in faster adoption of EV in India," according to a press release.
On the lines of "aggressive network strategy," the manufacturing group declared entry into 40 cities in 10 states of India with an exclusive dealership network and the finalisation of its first overseas exclusive experience centre in Kathmandu, Nepal.
Jindal Mobilitric Pvt. Ltd. also plans to release a range of electric two-wheelers in April 2023. These will be aimed at "premium, executive, and mass segment consumers".
Shares of the company gained as much as 1.11% to Rs 465.05 before closing 0.57% down, compared to a 1.03% decline in the benchmark Nifty 50.
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