Detel aims to raise Rs 150 crore, targets 100% localisation

Detel, a low-cost electric micro-mobility solution provider has announced that it targeting to raise Rs 150 crore by the end-2021. The company had unveiled the advanced model of Detel easy –Detel EV Plus catering to the needs of B2C segment and Detel Easy Loader for B2B at the India Auto Show.

The company says it is looking to invest funds on developing new and innovative product lines for Tier 2 and Tier 3 markets at the most disruptive price without compromising on quality. With the government's initiatives to make India self-reliant in the area of EV mobility, the company aims to have 100% localised EV components. It will be investing in creating R&D facility for the brand and also to establish a state of art manufacturing unit in Gurugram to offer the most economical and Indianised EVs in the market.

Dr. Yogesh Bhatia, founder, Detel said, “We have always strived to cater to Indian consumers with the most economical and Indiansied product line. With the rising pollution concerns in the nation, the future of the EV industry looks promising as the need for environment-friendly and cost-effective personal mobility increases. We have incorporated various value-added features in our range of electric vehicles such as 170mm road clearance, digital meter, tubeless tyres among others, making our products more appealing to our customers and also as a sustainable solution to address growing EV needs. To reinforce our vision, we are in talks with the investors for our first equity funding that will further help us to develop innovative consumer durables for masses by leveraging cutting-edge technology.”

Detel has been in Indian Market since 2017 with its electronics goods and consumer gadgets. In January 2020, the company entered the EV industry with a vision to facilitate Indian customers with smart EV vehicles, which have been designed in-house while utilising a global engineering network.