Startup EV-CO Enters EV Market; Launches 80,000 Sqft Manufacturing Unit For L3, L5 Vehicles
Haryana-based electric vehicle manufacturing startup, EV-CO (Electric Vehicle Co.) has officially launched their company in India.
The company currently produces around 5,000 units monthly and offers a range of EV products, including two-wheelers and three-wheelers in the L3 and L5 categories, with tailored battery solutions and plans to deploy 2,000 EVs this year.
EV-CO is currently working on developing four-wheelers to expand its product line and offer more choices to environment-conscious consumers. The EV manufacturer is a self-funded entity and hosts a state-of-the-art manufacturing unit spanning 80,000 square feet, equipped with advanced technology and machinery.
The EV manufacturer is backed by a team with a collective manufacturing experience of three decades, giving the company an edge over most contemporaries in a sector that is set to become a $113.99 billion market by 2029. As a new entity working on its Go-To-Market (GTM) strategy, it plans to enhance the value proposition of its customers and support the nation to become an EV manufacturing hub under the ‘Make in India’ initiative.
Commenting on the launch, Co-founders of EV-CO, Kanav Gupta and Karan Gupta, jointly stated, "For a long time, the transition to electric vehicles seemed beyond the reach of the common people. At EV-CO, we aim to challenge that notion and position EVs as a means of modern-day mobility solutions. Through our innovative approach and top-quality EVs, we aim to make sustainable mobility more accessible. As a new EV player, we are excited to see what the future holds for our company.”
EV-CO has also formed a partnership for EV financing with Delhi-based NBFC, Accelerated Money For U (AMU). The EV manufacturer is currently working to enhance and expand its product line-up and plans to explore strategic collaborations to strengthen its presence in the EV domain.
