Hyderabad: Versatile Auto Components, a Hyderabad-based electric vehicle maker, is betting big on Telangana market for its electric scooter VE-45. The rugged short distance commuter electric scooter has been developed as a means of personal transport.
The vehicle is currently made at its plastic and metal components facility that it operates in Pashamylaram industrial area. The first vehicle will be commercially rolled out by this month-end.
Telangana Industries Minister KT Rama Rao has formally unveiled the company’s vehicle on Monday, when the minister visited the Pashamylaram industrial area in Sangarareddy district to lay the foundation stone for construction of Common Effluent Treatment Plant (CETP).
The company is going to set up a dedicated greenfield manufacturing unit with an investment of about Rs 15 crore that will have a capacity of making 50,000 units per year. Fresh funding which will go into land acquisition, plant and machinery will be managed through a mix of debt and equity. The company has spent Rs 6 crore so far into the venture, funded entirely through internal accruals.
Chandu Kumar Potti, founder, Versatile Auto told Telangana Today, “We have already received 400-500 bookings for our vehicle. By this month-end, we will be keeping 1,000 vehicles ready. As of now we will deliver the vehicles to buyers directly and by October/November, we will appointing dealers across Telangana. We intend to sell our vehicles not just in Hyderabad but in all smaller towns of the State. In next six months, we will just focus on making inroads into Telangana.”
“After we tap Telangana, we will foray into Andhra Pradesh, Karnataka, Tamil Nadu and Kerala in south besides Maharashtra and Odisha,” he informed.
The vehicle uses indigenised parts barring few imported components. The company’s in-house team has designed, developed and manufactured the vehicle.
The vehicle can run 45 km per charge and comes with dual brakes that ensure effective braking. The single-seater vehicle can carry a load of over 150 kg and provides optimum safety to the owner. The vehicle is priced at Rs 21,000 (excluding GST).
He added, “The vehicle can be charged easily and can handle fluctuations or low voltage. Being portable vehicle with 35 kg weight, it can also be carried into a house or an apartment easily.”
In addition to rural usage, the company’s vehicle can also be used in large corporate campuses, making the commute pollution-free. It can also be suitable for college students, who otherwise commute by hanging over buses, travelling on footboard, making it risky, he informed.
He adds, “We will market our vehicle in Telangana, adjoining States and then go pan-India. We will also export it to Sri Lanka, Nepal and Bangladesh. We will grow the organic way. We will come out 27 models in total.”