Hyderabad: Chinese electric vehicle manufacturer, DAO EVTech, is all set to launch its operations in India by February 2020. The company has started assembling electric two-wheelers at its leased factory in Hyderabad and will start rolling out the vehicles by February. However, 2020-end the company plans to set up its own automobile complex in Andhra Pradesh near Krishnapatnam Port and have its own manufacturing unit with a capacity of 500,000 vehicles per annum.
Currently, the Chinese company will start assembling low-speed electric two-wheelers (with a maximum speed of 40 km/hr) and start supplying them by February. By April-end, the company will also start supplying high-speed vehicles (with a maximum speed of 80 km/hr). The electric two-wheelers being made by the firm can run up to 100 km in a single charge and DAO is also planning to enter the battery swapping space in the near future.
For the next three years, the company has set aside an investment of $100 million out of which $30 million will be used in the first phase of setting up the unit and dealership in both the Telugu-speaking States. Michael Liu, chairman and CEO, DAO EVTech said, “After gaining 25 years of work experience in the global electric motorcycles industry, we decided to enter the Indian market.”