Stella Moto Of Jaidka Group Officially Enters Indian EV Markets
Stella Moto, backed by the Jaidka Group officially enters the electric two-wheeler space (e2W). The Jaidka Group has already been in the EV space for the last six years, with very successful electric three-wheelers in the passenger and cargo carrier (L3) segments. With the entry into the two-wheeler industry, Jaidka strengthens and intensifies its hold in the Indian EV space.
Stella Moto plans to bring class-leading electric vehicles onto the road at the most prudent prices in the country. The company shall announce its high-speed electric scooters and bike in the coming months. The vehicles shall be produced at its manufacturing facility in Hosur, Tamil Nadu.
The company is investing heavily in the mobility of the future. With a strong focus on R&D and exhaustive testing, the company aims to design, class-leading well-engineered electric two-wheelers and 100 percent Indian L5 electric vehicles at affordable prices. The company has two manufacturing units at Howrah, West Bengal and Hosur, Tamil Nadu, with manufacturing capabilities of 20,000 vehicles per annum. It aims to expand its Manufacturing set-up further to 100,000 units. The company plans to achieve 100 rcent localisation by 2024.
"We have always had a strong interest in the automobile sector and are excited to enter the electric two-wheeler space. We have spent the last few years developing a strong R&D and technology infrastructure to create purposeful, extremely safe and class-leading electric vehicles. We are now prepared to introduce electric vehicles with the best range, quality features, and design in the country and beyond. We've been watching the EV space evolve over the last few years and have identified some gaps, which we intend to fill with our new product offerings and are confident will be appreciated by end users," said Gopal K Jaidka – Director, Jaidka Group.
Stella intends to open its retail outlets in key cities and has already appointed 55 authorized dealers, with the goal of appointing 200 in the coming year. The company plans to close the financial year 2023 with sales of approximately more than 10,000 vehicles.
The company shall launch its first electric scooter – Buzz, in November. The company under the Jaidka Group comes with a lineage of over eight decades and a strong background of having established multiple businesses across India in the Transport, Automobile and Logistics segments.
