This will also include increasing the capacity of the company’s Ludhiana plant in Punjab. Its current capacity is 75,000 units, which will be increased to 3,00,000 units. Munjal said, “The investment figure of Rs 700 crore can also be increased. We want to have a supplier base near the new factories. The proximity to the port will help us in exports. A major part of this production will be for the domestic market. “
Also read: Want to get rid of the rising prices of petrol and diesel? Buy CNG Cars from Maruti and Hyundai
The demand for electric two-wheelers is expected to increase with the rise in petrol prices, cheaper electric vehicles and the launch of their new models. Central and state governments are also planning to promote electric vehicles. The sales of electric two-wheelers in the country were over 1,30,000 units last year, which is likely to increase to over 3,00,000 units this year.