Keto Motors to invest USD10 mn on EV plant
Keto, a joint venture between Hyderabadbased Eto Motors Pvt Ltd and Hong Kongbased Kyto Green Technologies Limited is all set to launch of its electric autorickshaw variants in the country The company showcased its flagship product for the first time at the 8th EcoFriendly Electric Vehicles Expo in India EV Expo 2018 that kicked off on Friday at Pragati Maidan in the national capital
Hyderabad: Keto, a joint venture between Hyderabad-based Eto Motors Pvt Ltd and Hong Kong-based Kyto Green Technologies Limited is all set to launch of its electric autorickshaw variants in the country. The company showcased its flagship product for the first time at the 8th Eco-Friendly Electric Vehicles Expo in India (EV Expo 2018) that kicked off on Friday at Pragati Maidan in the national capital.
Commenting on the launch of Kyto and company’s future plans, Balram Narayankar, Director of Keto said, “Keto is likely to invest $10 million in the coming two years, and the funds will be utilised for setting up a new plant with a capacity of 50,000 units annually, and towards research & development of the product. Our focus is to make these vehicles accessible and affordable to all; so, in addition to retailing, Keto is considering leasing options.”
Designed to the EU standards, the E-Autos come in three variants _ Kyto 3, Kyto 5 and Kyto Cargo - catering to various customers’ needs in the Indian market. While Kyto 3 and Kyto 5 are 3 and 5-seater passenger vehicles; Kyto Cargo will be used for carrying goods and waste collection.