KSL Cleantech To Launch Electric Two-Wheelers In India

The Kolkata-based manufacturer intends to invest Rs 200 crores in the growing electric vehicle business in India

• KSL Cleantech plans on launching 10 new electric two- and three-wheelers within the next 12 months.
• Manufacturing will commence in a phased manner.
• The company is expected to launch two e-scooters in the next couple of months.

KSL Cleantech Ltd., formerly known as Kirti Solar Limited, is a solar company that’s prepping to spread its wings in the electric vehicle space in India. In order to do so, it plans on investing Rs 200 crores and aims at launching 10 new electric two-wheelers and three-wheelers in the country within the next 12 months. The manufacturing of these products will commence in a phased manner with two scooters being launched in the next couple of months. In order to keep costs in check, the company is also considering setting up its own manufacturing facility in the country. Unfortunately, KSL Cleantech hasn’t revealed any details about its scooters’ specs or prices. 

The move comes soon after Niti Aayog, the government’s think tank, asked two-wheeler manufacturers in India to draft a plan for the electric shift. Entering the EV segment right now could be considered a smart move considering India's electrification plans for the near future. In essence, all petrol-powered two-wheelers below 150cc will be banned by 2025, post which the government purposes to sell only electric vehicles by 2030. Taking into account that India is currently the biggest two-wheeler industry in the world, even a small chunk of the market would work wonders for any electric two-wheeler brand. 

More details about the brand and its future plans are mentioned in the press release below. 

Press Release: 

KSL Cleantech Limited plans to scale up Electric Vehicle business in a big way

“Plans to launch 10 new innovative variants of Electric Vehicles in two wheelers and three wheelers segment”

New Delhi, 4th July 2019: Building on the success of its Solar business, Kolkata-based KSL Cleantech Ltd. (formerly known as Kirti Solar Limited), one of the largest and most experienced solar photovoltaic companies in India is gearing up to expand its electric vehicle business in India.

The company will be focusing on electric two and three wheelers, and small commercial and passenger vehicles in the coming months. Currently, the company has few models of three wheeler electric vehicles which are being sold across India through a large number of dealers and channel partners. Electric vehicle (EV) ownership will balloon to about 125 million by 2030. Seeing the humongous opportunity, the company plans to launch 10 new innovative variants of Electric Vehicles in two wheelers and four wheelers segment within the next 12 months. The group is developing various prototypes of mini passenger vehicles and is currently in discussions with a global technology partner in EV space.

The company also plans to manufacture these models in India in a phase-wise manner with an investment of more than Rs 200 Crore. 

In FY2019, total EV sales in India crossed the 7,50,000-units mark and reached a total of 7,59,600 units. This includes electric two-wheelers (1,26,000), electric three-wheelers (6,30,000) and electric passenger vehicles (3,600), which translates into electric two-wheelers witnessing triple-digit growth (130  percent) year-on-year (YoY).

Bullish on company’s growth plans Mr. Dhiraj Bhagchandka, Managing Director, KSL Cleantech Ltd. said, “The entire market for land transport will switch to electrification in the near future. The government wants to bring in EVs swiftly to tackle pollution, and this gives us an opportunity to address a market looking for quality and performance and show an EV can outperform.”

“We have set an ambitious target of entering the EV space in a big way. We are considering and evaluating opportunities for setting up a manufacturing facility in India.” Mr. Bhagchandka further added.

The company has executed more than 10,000 solar installations across the country in solar based rooftop power projects, solar pumping solutions, and rural electrification. KSL has one of the largest sales/installation networks backed by an experienced team of design and integration experts.