By Priya Singh
2619 Views
Updated On: 13-Oct-2022 06:45 AM
Over 1250 jobs are expected to be created as a result of the project.
Over 1250 jobs are expected to be created as a result of the project.
Causis E-Mobility, the company plans to increase production to 4000 units by CY23 after recently receiving orders to supply 700 electric double-decker buses to Mumbai civic authority's transport division BEST. The current peak capacity of the company's existing Jaipur plant is around 1000 units.
Causis E-Mobility, a subsidiary of the London-based CAUSIS Group, specializes in the production and distribution of electric vehicles as well as charger infrastructure and renewable energy.
The Kalyan Dombivali Municipal Corporation (KDMC) has granted Causis E-Mobility permission to operate its EuraBus in its jurisdiction. For twelve years, the company has received a Letter of Award (LoA) for the procurement and maintenance of 107 fully built 9-meter, midi, pure electric air-conditioned and non-airconditioned buses with drivers and allied electrical and civil infrastructure on a wet lease basis.
In October of last year, Causis E-mobility signed an MoU with Maharashtra to establish an electric vehicle manufacturing unit near the auto belt of Talegaon in Pune, with an estimated investment of Rs 2,800 crore. Over 1250 jobs are expected to be created as a result of the project.
In phase 2, the company plans to construct its battery gigafactory to manufacture EV batteries. Causis E-mobility has announced plans to build an e-bus factory in Kopparthi, Andhra Pradesh. The Pune and Kopparthi plants will each have a capacity of about 1500 e-buses. "In general, the company's vehicle capacity will be around 4000 units by December 2023," Panga said.
Panga has stated that the BEST project will require an initial investment of around Rs 1800 crore, and the company is in the advanced stages of discussions with a group of banks in this regard. He also stated that the bank will require Causis E-Mobility to provide 25-30% equity funding, with the remainder coming from lenders. "Because this money will be needed over time as deliveries are made. I am confident that the Indian debt market will respond positively," Panga added.
CMV360 always keeps you up to date on the latest government schemes, sales reports, and other relevant news. So, if you're looking for a platform where you can get relevant information about commercial vehicles, this is the place to be. Stay tuned for new updates.