Micromax plans to enter electric vehicles and battery market

The Indian consumer electronics company Micromax aims to enter electric powered vehicles and battery production market, according to a report in the Economic Times.

The company is in the final stage of completion of checking out procedures for the electric vehicles and has given go-ahead for a number of its lithium battery classes. The company has received the nod for lithium batteries for e-rickshaws and e-automobiles.

The government of India is taking a number of steps to promote electric vehicles, under the second stage of Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme, it plans to waive registration and tax on the sale of electric automobiles. To make the operation of electric vehicle charging stations easier recently the power ministry has also classified charging batteries of electric vehicles as a service

The company after getting the required approvals is likely to decide the place for the producing unit which may be Bengaluru, Pune or Chennai, the report says, as the manufacturing plant must be supported by means of the existing ecosystem.


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