The Micromax Logo on an a tablet (Pradeep Gaur/Mint via Getty Images)Gurgaon-based mobile phone manufacturer Micromax has announced its intentions to foray into the Electric Vehicle (EV) sector and manufacture complete vehicles as well as battery units for vehicles, reports Economic Times. Micromax is currently working on the formalities for the new venture and has already got approvals for some of its lithium battery categories.
The company is keen on entering the two and three-wheeler segment and recently got certification for its batteries for use in e-rickshaws in Delhi. Micromax co-founder Rajesh Agarwal said that it was too early to talk about developments but confirmed the plans to enter the EV segment, adding that talks were on with other technology providers.
Executives from the mobile phone manufacturer that made news in 2013 by signing Hollywood actor Hugh Jackman as its brand ambassador say that the EV sector offered a vast potential due to only a few players in the field to take on the increased demand from both the public and private sector.
There are very limited players in the e-three wheelers segment — Bajaj Auto, Mahindra & Mahindra, TVS and Piaggio Ape — while the e-rickshaw market is largely unorganised. Scope in electric two-wheelers segment is very wide. With the government’s focus on promoting e-mobility, we expect the electric three-wheelers and two-wheelers to pick up quickly.A Micromax official
Once Micromax gets the required approvals, it will finalise the location of its manufacturing unit, most likely to be located in Pune, Bengaluru or Chennai.
Also Read:
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