Motovolt Mobility Pvt Ltd, an electric mobility company, today launched India's first fleet of smart e-cycles under the brand name Motovolt.
Through this acquisition, Ampere aims to expands its presence in the e-Rickshaw segment to become an integrated last-mile e-mobility player.
Indian and foreign car-makers are making the first large investments in setting up e-vehicle and battery manufacturing facilities in India. But battery charging infrastructure will have to be rolled out across the country and the upfront cost of electric vehicles (EVs) will have to fall significantly for these eco-friendly models to gain mass acceptance. Consider this: one has to spend an average Rs 5-6/km ($0.07-0.08) for fuel to drive a petrol car in India. Add the wear and tear, maintenance [...]