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KSL Cleantech Limited (formerly known as Kirti Solar Limited) has entered into a Joint Venture (JV) with China’s EV giant — Huaihai Holding Group — one of the largest companies in the field of electric mini vehicles.
The Joint venture shall be comprehensive for the Indian market & comprise of product design, development, manufacturing, product innovation, marketing, sales, finance, after-sales service and the supply of critical components for electric vehicles in India. Huaihai KSL will invest up to Rs 200 crore in the near future to set up manufacturing/assembly units in India along with country-wide sales, distribution network, vendor development, channel sales development, marketing and brand building. The production is slated to begin in 2020 and will be ramped up in phases. Already, KSL Cleantech has an existing assembly unit for these vehicles in Kolkata with the capacity of 10,000 units/annum.
The JV will develop technology for a range of electric vehicles including mini, commercial and passenger vehicles and will draw from the latest in electric vehicle technology, apply cost-effective design experience and use intelligent interconnectivity. Huaihai KSL expects to launch up to 10 models in electric two and three-wheelers category based on the market response and need, in another next 12 - 36 months in India.
The current market share for electric two-wheelers in India is 50,000 pieces/ annum and three-wheelers share is 100,000 pieces/ per annum. The JV is looking at a consolidated figure of 100,000 pieces in the next three years. Huaihai KSL is also planning to work under FAME 2 scheme for electric mobility.
Dhiraj Bhagchandka, Managing Director, KSL Group, notes, “The JV shall bring together the strengths of both the companies, harnessing the full potential of Huaihai’s manufacturing and R&D expertise combined with the experience, resources, knowledge of KSL Cleantech in India.”
Cathrine Xing, Director, Huaihai Holding Group & GM for International Business said, “Huaihai group has decades of experience & market leadership position in electric two and three-wheelers globally. Through our exclusive joint venture with KSL Cleantech, we now plan to leverage our expertise in design & development, sales & service of these vehicles for the Indian market. Huaihai has already ventured in the electric four-wheelers category in China & we will also explore this range of vehicles for the Indian market in future.”
Huaihai - KSL intends to appoint dealers and distributors across India. Also, it plans to open a chain of company-owned showrooms in various locations of India to expand the sales and distribution network. In the near future, Huaihai KSL will also look at operating its own fleet of vehicles as a service offering to major e-commerce and logistics companies in India.
The joint venture of Huaihai Holdings and KSL Cleantech is being formed with an intention to set up an integrated manufacturing plant, strong R&D, nationwide sales and service network for electric two-wheelers and three-wheelers for the Indian market. Therefore, this joint venture is expected to significantly augment & support the ambitious plans for the transformation into electric mobility in India.
About Huaihai Holding Group:
Huaihai Holding Group: Established in 1996, Huaihai has more than 20 subordinate branches, as well as four major manufacturing bases across China and a workforce of more than 20,000 people. Its marketing network has covered 76 countries worldwide and it manufactures and sells 1.5 million pieces annually. Therefore, Huaihai is the largest company in China in this category of vehicles.
About KSL Cleantech Limited:
KSL Cleantech Limited: has offices and a sales network across 10 Indian states and has supplied/installed more than 5,000 systems across India in Solar Rooftop, Solar Irrigation Projects and also Electric Mini-Vehicles. KSL Cleantech has been an MNRE, Govt of India recognized channel partner and has executed projects across India, Bangladesh for more than a decade. It has recently launched electric bicycles in partnership with the British brand GoZero Mobility.
The Joint venture shall be comprehensive for the Indian market & comprise of product design, development, manufacturing, product innovation, marketing, sales, finance, after-sales service and the supply of critical components for electric vehicles in India. Huaihai KSL will invest up to Rs 200 crore in the near future to set up manufacturing/assembly units in India along with country-wide sales, distribution network, vendor development, channel sales development, marketing and brand building. The production is slated to begin in 2020 and will be ramped up in phases. Already, KSL Cleantech has an existing assembly unit for these vehicles in Kolkata with the capacity of 10,000 units/annum.
The JV will develop technology for a range of electric vehicles including mini, commercial and passenger vehicles and will draw from the latest in electric vehicle technology, apply cost-effective design experience and use intelligent interconnectivity. Huaihai KSL expects to launch up to 10 models in electric two and three-wheelers category based on the market response and need, in another next 12 - 36 months in India.
The current market share for electric two-wheelers in India is 50,000 pieces/ annum and three-wheelers share is 100,000 pieces/ per annum. The JV is looking at a consolidated figure of 100,000 pieces in the next three years. Huaihai KSL is also planning to work under FAME 2 scheme for electric mobility.
Dhiraj Bhagchandka, Managing Director, KSL Group, notes, “The JV shall bring together the strengths of both the companies, harnessing the full potential of Huaihai’s manufacturing and R&D expertise combined with the experience, resources, knowledge of KSL Cleantech in India.”
Cathrine Xing, Director, Huaihai Holding Group & GM for International Business said, “Huaihai group has decades of experience & market leadership position in electric two and three-wheelers globally. Through our exclusive joint venture with KSL Cleantech, we now plan to leverage our expertise in design & development, sales & service of these vehicles for the Indian market. Huaihai has already ventured in the electric four-wheelers category in China & we will also explore this range of vehicles for the Indian market in future.”
Huaihai - KSL intends to appoint dealers and distributors across India. Also, it plans to open a chain of company-owned showrooms in various locations of India to expand the sales and distribution network. In the near future, Huaihai KSL will also look at operating its own fleet of vehicles as a service offering to major e-commerce and logistics companies in India.
The joint venture of Huaihai Holdings and KSL Cleantech is being formed with an intention to set up an integrated manufacturing plant, strong R&D, nationwide sales and service network for electric two-wheelers and three-wheelers for the Indian market. Therefore, this joint venture is expected to significantly augment & support the ambitious plans for the transformation into electric mobility in India.
About Huaihai Holding Group:
Huaihai Holding Group: Established in 1996, Huaihai has more than 20 subordinate branches, as well as four major manufacturing bases across China and a workforce of more than 20,000 people. Its marketing network has covered 76 countries worldwide and it manufactures and sells 1.5 million pieces annually. Therefore, Huaihai is the largest company in China in this category of vehicles.
About KSL Cleantech Limited:
KSL Cleantech Limited: has offices and a sales network across 10 Indian states and has supplied/installed more than 5,000 systems across India in Solar Rooftop, Solar Irrigation Projects and also Electric Mini-Vehicles. KSL Cleantech has been an MNRE, Govt of India recognized channel partner and has executed projects across India, Bangladesh for more than a decade. It has recently launched electric bicycles in partnership with the British brand GoZero Mobility.
