Micromax Co-Founder Rahul Sharma Is Ready To Enter The EV Market

Micromax co-founder Rahul Sharma is bracing to mark his entry in the electric vehicle business. According to an ETAuto report, Sharma has invested about Rs. 500 crore into new venture and plans to launch its first product, an electric motorcycle, within a few months.

Sharma’s new venture has already set up a 1 lakh square feet factory in Manesar and already has a 45-member research and development team working on the product as well as its feasibility for the Indian market. While the company will import the two-wheeler motor and battery cells, the EV Control Unit will be locally produced.

While Sharma hasn’t shared any details about the upcoming motorcycle’s name or expected price yet, he said, “I have done my homework in the EV space, and now intend to disrupt the two-wheeler industry. The idea is to create a motorcycle blockbuster — similar to successes such as Hero’s Splendor and Bajaj’s Pulsar — but with an electric product. This will not only be an environmentally-efficient product, but will provide hugely low running-cost to the users.”

The electric motorcycle, which will be capable of a range of 150 km on a full charge, seeks to take conventional two-wheelers from industry behemoths like Bajaj Auto, TVS, and Hero MotoCorp. The e-motorcycle will first go on sale, via both brick and mortar showrooms and online platforms, in Delhi around mid of June this year.

Sharma maintains a positive outlook about the prospects of the electric vehicles business in India, especially considering the myriad benefits to encourage adoption of EVs in the country.―Times Now