- The JV between KSL Cleantech and Huaihai plan to invest Rs 200 crore in India.
- Manufacturing of electric vehicles will be done in a phased manner.
- Huaihai-KSL has already showcased two electric scooters.
The electric mobility segment in India is still at a very nascent stage, allowing companies from all over the world to tap one of the biggest t🌠wo-wheeler markets in the world. And KSL Cleantech Limited is the latest company to enter this segment. The Indian brand has joined hands with Chinese manufacturer Huaihai Holding Group anꦅd is planning to invest Rs 200 crore in the EV segment.
The company has already showcased two electric scooters. While the first one is targeted towards the commercial sector and will be used as a delivery vehicle by various firms, the other is intended for personal use just like the Okinawa Praise. Huaihai-KSL hasn’t revealed the name or the pꦬrice of these scooters yet, but it has unveiled their specifications. The commercial e-scooter is powered by a 500W hub motor and a 48V 38Ah lithium-ion battery, which the company claims provides a range of 60km on a single charge. The manufacturer also says that the battery can be fully charged within 2-3 hours.
The other scooter is powered by a 250W motor and houses a 60V 20Ah lead-acid battery. What about the range and charging time? Well, the EV maker claims that the scooter has a range of 60-70km and it takes 6-8 hours to fully 🔯charge the batteries. One of the reasons why the company hasn’t used lithium-ion battery in this scooter could be because it would’ve increased the final asking price🐷. Apart from these scooters, the EV maker is planning to launch eight other models in the electric two- and three-wheeler segment in the next 12-36 months.
Huaihai-KSL says that the production of electric vehicles will begin in 2020. Currently, KSL Cleantech has an assembly plant in Kolkata which has a capacity of 10,000 units per year. However, both companies will set up a new manufacturing a🦋nd assembly facility in India soon.
The government had recently announced a reduction of GST on EVs from 12 per cent to 5 per cent and 🌺this move has resulted in e-scooters becoming more affordablᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚe than before. The government’s latest initiative is likely to encourage more newcomers in the electric two-wheeler space and explore our two-wheeler industry in the near future.
Here’s the official press release from the company for more details:
KSL Cleantech Limited and China𝕴’s Huaihai Holding Group enter into a Joint Venture for Electric Vehicle Business in India
July 31st, 2019, New Delhi: KSL Cleantech Limited (formerly known as Kirti Solar Limited), one of t🔜he pioneers in renewable energy and electric vehicles in India has entered into a Joint Venture (JV) with China’s EV giant — Huaihai Holding Group — one of the largest companies in the field of electric mini vehicles.
The Joint venture shall be comprehensive for the Indian market & comprise of product design, development, manufacturing, product innovation, marketing, sales, finance, after-sales service and the supply of critical components for electric vehicles in India. Huaihai KSL will invest up to Rs 200 crore in the near future to set up manufacturing/assembly units in India along with country-wide sales, distribution network, vendo♛r development, channel sales development, marketing, and brand building. The production is slated to begin in 2020 and will be ramped up in phases. Already, KSL Cleantech has an existing assembly unit for these vehicles in Kolkata with the capacity of 10,000 units/annum.
The JV will develop technology for a range of electric vehicles including mini, commercial and passenger vehicles and will draw from the latest in electric vehicle technology, apply cost-effective design experience and use intelligent interconnectivity. Huaihai KSL expects to launch up to 10 models in electric two and three-wheelers category based on the market response and need, in another next 12 - 36 months in I🥀ndia.
The ꧙current market💫 share for electric two-wheelers in India is 50,000 pieces/ annum and three-wheelers share is 100,000 pieces/ per annum. 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 Direct𒊎or, KSL Group, notes, “The JV shall bring together the strengths of both the companies, harnessing full the potential of Huaihai’s manufacturing and R&D expertise combined with the experi🦋ence, resources, knowledge of KSL Cleantech in India.”
Cathrine Xing, Director, Huaihai Holding Group & GM for International Business, avers, “Huaihai group has decades of experience & market leadership position in electric two and three-wheelers globally. Through our e🤪xclusive 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 the future.”
Huaihai - KSL intends to appoint 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.
The joint venture Huaihai Holdings and KSL Cleaཧntech is being formed with an intention to set up an in🎀tegrated manufacturing plant, strong R&D, nationwide sales and service network for electric two-wheelers and three-wheelers for the Indian market. Therefore, this joint venture is expected to significantly augment & support the ambitious plans for the transformation into electric mobility in India.
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