Electric two-wheeler maker Kabira Mobility on Saturday said it along with partner Al-Abdulla Group of Qatar will invest Rs 300 crore to set up a new manufacturing plant at Jewar in Uttar Pradesh.
The new plant spread over 50 acres will have a capacity of 1.2 lakh units per month with eight assembly lines, the company said in a statement.
It will also have a fully automated battery pack assembly and testing line apart from inventory management system and robotic chassis welding line.
This new facility is expected to generate direct and indirect employment opportunities for 7,000 individuals, the company added.
"With the electric vehicle market outpacing expectations, growing at a rate of two to three times faster, it is imperative that we stay ahead of the curve. Our second manufacturing plant in north India reflects our commitment to meeting the surging demand while advancing our mission of 'made in India' and establishing India as a global leader in the electric vehicle manufacturing industry," Kabira Mobility CEO Jaibir Siwach said.
He further said, "This investment will not only help us in keeping pace with the increasing demand but also provide a solid foundation for our future growth plans." The new plant at Jewar is strategically located in the north India region which is one of the fastest growing and untapped markets today and will provide an advantage for Kabira Mobility to reach new markets, the company said.
"Our investment aligns perfectly with our group's vision of investment in the renewable energy sector. By partnering with Kabira Mobility, we are strengthening our position in the renewable energy industry and expanding our reach into new markets in the Middle East and African regions," Al-Abdulla Group CEO Manoj George said.
The investment was announced at the ongoing UP Global Investors Summit.
Kabira Mobility said it plans to expand its sales network to over 130 exclusive stores by December 2023, up from 40 stores at present.