New Motion set to invest Rs 1000 crore In India; set to make India global manufacturing hub

The electric vehicle segment in India is still at a very nascent stage but is expected to grow tremendously in the next few years. Few manufacturers like Mahindra and Hero Electric are already selling few electric products in India, but the response has been disappointing.

But things might change in the next few months. New Motion – one of the world’s largest smart charging companies has announced that it will be investing Rs 1000 crore in India. This money will be used to set up a manufacturing facility in India and if things go well, the company will make India their global manufacturing hub. 

As per the company, charging a car using a regular power socket takes about 6-7 hours. However, the smart chargers from New Motion can charge 80 per cent of the vehicle in 15-30 minutes, which is really impressive. One of the reasons why buying an electric vehicle is impractical in India, is due to the charging time and lack of infrastructure to support this. But this could change if the government gets really serious about the National Electric Mobility Mission Plan 2020 (NEMMP).

"In Europe there'll be three million electric vehicles in the coming five years. We expect the numbers in India to be much larger than that. By building a manufacturing facility in India, we are trying to bring down the cost of charging -it needs to be affordable for India," said Ritsaart Montfrans,CEO,New Motion.