Autolite enters e-rickshaw space; to grow lithium ion battery business
Powered by lead acid batteries, Autolite's e-rickshaws are being marketed in three states of Rajasthan, Haryana and Uttar Pradesh through the company’s distribution network of 7 dealers.
Tapping the push given to electric vehicles by the Indian Government, Jaipur-based lighting solutions company Autolite India has diversified into the manufacture of e-rickshaws from early this month. Powered by lead acid batteries, the e-rickshaws are being marketed in three states of Rajasthan, Haryana and Uttar Pradesh through the company’s distribution network of 7 dealers. Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a small production set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month. The plan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can be manufactured monthly in view of their growing market demand.
To facilitate this, Autolite is in the process of tying up with some investors like non-banking finance companies and high net worth individuals in the country for part funding of the new plant. The facility is expected to attract an investment of Rs 8 crore with part funding to be routed through internal accruals. Currently search is on for the plant site in the city. With the aim of being a long-term player in the EV space, Autolite under a joint venture company, Highstreet Lighting Limited, established a lithium ion battery plant in Gurgaon, Haryana last year. The JV is working closely with OE manufacturers to supply them lithium ion batteries on demand. Lithium ion batteries will power Autolite’s e-rickshaws, within a couple of months, to be followed by solar powered e-rickshaws as well.
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