Kolkata-based KSL Cleantech to invest Rs 200 crore for EVs

The pace of adoption for electric vehicles may be low, but that not deterring non-conventional players from eyeing a piece of  what they see as a new business opportunity. No wonder, with each passing days, players big or small, new or old, committing to the cause of electric mobility. Joining one such name is Kolkata-based solar PV company, KSL Cleantech (formerly known as Kirti Solar), who is gearing up to expand in electric vehicle business in India.

The company says it will focus on bringing out electric two- and three-wheelers, small commercial and passenger vehicles in the coming months, for which it plans to invest aroun Rs 200 crore to manufacture these models in a phased manner.

At present, the company is already selling e3Ws  across India and plans to launch 10 new electric two- and four wheelers within the next 12 months, for which the group is developing various prototypes and is also in discussion with a global technology partner in the EV space.

Bullish on company’s growth plans, Dhiraj Bhagchandka, managing director, KSL Cleantech said, “The entire market for land transport will switch to electrification in the near future. The government wants to bring in EVs swiftly to tackle pollution, and this gives us an opportunity to address a market looking for quality and performance and show an EV can outperform. We have set an ambitious target of entering the EV space in a big way. We are considering and evaluating opportunities for setting up a manufacturing facility in India.” 

KSL says it has executed more than 10,000 solar installations across the country in rooftop power projects, pumping solutions, and rural electrification.