Electric Two Wheelers News

The electric two-wheeler manufacturer is gearing to launch its first model, the LML Star, in India later this year.

As per a report, the company is negotiating with a number of banks to raise the amount and an agreement could be reached later this year

As per documents, the two electric scooters will be CBU imports and can be registered at RTOs.

The fundraising would be managed by investment bank Goldman Sachs

The manufacturer is looking to expand its presence in India in the short term while also looking to expand its reach to global markets by the end of the decade.

Kabira Mobility says that the investment will be used to ramp up production, set-up a new production facility and expand its pan-India network.

Some Indian automobile manufacturers, including both carmakers and two-wheeler manufacturers, seem reluctant to use the term “recall” or issue voluntary recalls on defects and issues affecting safety. Has the Indian auto market not matured enough to issue pro-active voluntary recalls?

Hero Electric Managing Director Naveen Munjal says that already the company is building substantial capacity to meet immediate demand of electric two-wheelers. Within the next 2-3 years, the company expects to ramp up capacity to meet rising demand.