Ajanta to launch 1 lakh rupee electric car
Ajanta, maker of quartz and home appliances, is looking to acquire an electric car manufacturer in the Guangzhou province of China, so it can produce and sell 1 lakh rupee electric car.
The Rs. 1,500 crore company, which also makes electric bikes, vitrified tiles and CFL lamps, has made a layout of Rs 100 crore to acquire an existing assembly unit of an undisclosed carmaker, which can roll out 5,000 electric cars a year.
Ajanta Group director, Jaysukh Patel while refusing to comment on the acquisition plans. He, however, said: “We have not yet decided on it, but are seeking the government support, so that we can develop cheaper vehicles for the Indian market.” VAT and excise duty put together make almost one fourth of the total manufacturing costs of the vehicle. “If the costs are lowered, we are capable of manufacturing battery-powered cars at Rs 1 lakh or less.”.
Ajanta has already produced prototypes of the electric car, which can run 120 kms in a single charge, which consumes 7 units of electricity, costing nearly Rs 30-35 per charge.
Ajanta plans to launch the electric cars under its existing brand, Oreva and already has 10 prototypes running.
