Force Motors will invest Rs 2,000 crore in India in the next 3-4 years
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New Delhi: Due to rising prices of petrol and diesel in India, electric vehicles are being adopted rapidly. According to the demand of the customers, the vehicle manufacturing companies are also producing them at a fast pace. Not only this, these companies are also investing crores of rupees for the manufacturing of electric vehicles. It is also expected that the world’s number one electric vehicle manufacturer Tesla will also invest in the production of electric vehicles in India. In this sequence, Indian vehicle manufacturer Force Motors will invest about Rs 2000 crore in the coming three-four years for the development of electric vehicles and to promote the green campaign.
Force Motors will make electric vans
Company managing director Prasanna Firodia said that his company Force Motors plans to invest about Rs 2,000 crore on various activities in the next three to four years. He said that the company will make this investment on green campaign and development of electric vehicles (EV). Force Motors sells a range of commercial and utility vehicles. The company intends to launch an electric variant of its van series in the future.
Where will the investment amount be spent
While talking to the media, Prasanna Firodia said that at the company level we will invest about Rs 2,000 crore in the next three to four years. He said that this investment will be made in conventional engines, EVs, upgrading engineering facilities and in a more green environment. The company will invest extensively across the entire value chain.
First electric Fos Traveler introduced at mobility show
The company had showcased its Traveler Electric, Urbania Diesel and Traveler CNG at the ‘Bharat Mobility Global Expo’. The company has now started the electrification campaign. However, it will retain vehicles with conventional engines. Prasanna Firodia said that the investment on electrification will be around Rs 200 to 300 crore. He told that the first electric offering will be Traveler Electric.
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