Godawari Electric Motors plans to invest Rs 100 crore in business expansion over the next three years
By siliconindia | Tuesday, 22 August 2023, 03:36:16 PM IST
The Raipur-based firm moved into the electric two-wheeler segment with the launch of Eblu Feo, tagged at Rs 99,999 lakh. Godawari Electric Motors lines up Rs 100 crore over the next 3 years for business expansion Godawari Electric Motors stated it will be investing Rs 100 crore over the next three years to develop new electric products and bolster its sales infrastructure across the country. The Raipur-based firm forayed into the electric two-wheeler segment.
The launch of Eblu Feo tagged at Rs 99,999 lakh."We have invested around Rs 100 crore in the business so far. Over the next three years, we plan to invest another Rs 100 crore on new product development, enhancing quality and expansion of sales infrastructure, " Godawari Electric Motors CEO Hyder Khan. He noted that with the launch of the Eblu Feo, the company now also plans to ramp up its sales network across the country.
"With the new product on the road, we will go all out now and will have 50 dealers by September-end. By the end of this fiscal we aim to have 100 dealers," Khan said. Godawari Electric Motors can produce around 4,000 e-scooter units per month at its Raipur plant, he noted. By the end of this fiscal, the company aims to sell around a total of 12,000-15,000 units, Khan said. The company plans to introduce another e-scooter in the next six months, he noted.
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