Electric two-wheeler start-up Gravton Motors plans to invest ₹150 crore in State for setting up a greenfield plant with a capacity to manufacture 3 lakh units by this year.
The firm is in talks with the State government regarding the proposal and a decision on where the facility will come up has not yet been finalised, founder and CEO Parshuram Paka said.
Gravton’s existing facility in Cherlapally here is designed to manufacture 48,000 units a year. The firm indigenously designs and develops all major components. The decision to consider a bigger facility, despite commercial launch of its Quanta electric bike getting delayed on account of the pandemic, is based on the start-up being upbeat about the prospects of EVs in general and its product in particular. As a measure to drive home the point, five riders of the company undertook a relay expedition on a Quanta from Kanyakumari to Khardung La (Ladakh) in September and entered the Asia Book of Records for covering the 4,011 kms K2K Ride in the shortest time.
In a media interaction on Friday, Mr. Paka said the EV industry has been subject of discussions regarding performance of the vehicles.
“We took this unconventional route... thankful to Asia Book of Records team for recognising our efforts,” he said.
