Stella Moto Enters Electric Two-Wheeler Space In India

Stella Moto, a new electric two-wheeler company, has announced its entry in the Indian two-wheeler market. It will be backed by the Jaidka Group in India, which has been in the EV space in India for over six years now. It manufactures electric three-wheelers in the passenger and cargo carrier segments. Stella Moto aims to introduce new and high-class electric two-wheelers and promises to keep the prices competitive too. It will manufacture its electric scooters and motorcycles at its manufacturing facility in Hosur, Tamil Nadu. The company will launch its first electric scooter, Buzz, this month itself.

Speaking on the announcement, Gopal K Jaidka – Director, Jaidka Group said, "We have always had a strong interest in the automobile sector and are excited to enter the electric two-wheeler space. We have spent the last few years developing a strong R&D and technology infrastructure to create purposeful, extremely safe and class-leading electric vehicles. We are now prepared to introduce electric vehicles with the best range, quality features, and design in the country and beyond. We've been watching the EV space evolve over the last few years and have identified some gaps, which we intend to fill with our new product offerings and are confident will be appreciated by end users."

Stella intends to open its retail outlets in key cities and has already appointed 55 authorised dealers, with the goal of opening 200 dealerships in the coming year. The company plans to close the financial year 2023 with sales of over 10,000 EVs.

The company has two manufacturing units at Howrah, West Bengal and Hosur, Tamil Nadu, with manufacturing capacity of 20,000 vehicles per annum. It aims to expand its manufacturing set-up further to 100,000 units. The company plans to achieve 100 per cent localisation by 2024.