100% locally-made Detel EV coming soon: Brand to raise Rs 150cr investment by end-2021
Detel has been in the news for the right reasons. The brand that introduced the world’s most affordable helmet has also come up with an economical EV. Now, as they gear up to launch the revised version of this EV, the company aims to make a 100 per cent locally made electric vehicle soon. This will use local components as opposed to the imported ones currently being used. In an earlier interaction, Yogesh Bhatia, the founder of Detel told us that “within the next six months, Detel Easy Plus will have 100 per cent Indian components.” Now the company seems to be working towards this mission. They intend to raise a fund of Rs 150cr for this expansion and localisation. This money will be raised by end-2021. The BMS as well as battery cells are being imported now while other components including the tyres (Ralco) are locally-made.
Detel plans to invest in making an R&D facility for the brand and also to build a manufacturing unit in Gurugram, These factory will roll out economical and Indianised EVs in the market. On this new development, Yogesh Bhatia said, “We have always strived to cater to Indian consumers with the most economical & Indianised product line. With the rising pollution concerns in the nation, the future of the EV industry looks promising as the need for environment-friendly and cost-effective personal mobility increases.
We have incorporated various value-added features in our range of electric vehicles such as 170mm road clearance, digital meter, tubeless tyres among others, making our products more appealing to our customers and also as a sustainable solution to address growing EV needs. We have always aimed at #connecting40croreindians with our distinct product offerings. To reinforce our vision, we are in talks with the investors for our first equity funding that will further help us to develop innovative consumer durables for masses by leveraging cutting-edge technology.”