The Gurugram based mobile phone maker, Micromax is looking to make an entry in the Electric vehicle market. The segment is still in its nascent stage and there are not many players in India competing for the market share. E-Mobility is the next big thing and now as the government is pushing for the green mobility vision by 2030, the companies want to cash in the government perks and capture the market in early stages.
Micromax Informatics is planning to enter the two and three wheeler segment. The prototypes are currently in the testing phase waiting for approval. The lithium-ion batteries have already received the permissions. The batteries are for the e-rickshaws and the e-autos.
The center may also remove the registration and road tax for EV manufacturers in coming future. Schemes like FAME and tenders by EESL also attract manufacturers to enter the segment.
The company will focus on the electric vehicle market apart from mobile phones. The reason being a heavy presence of Chinese makers in the mobile tech market which offer cheaper products. The company is seeking funding and are in talks with various investors for its new business plan.
Source: Business Today