Force Motors, an automaker plan to invest 2000 crore in Indian EV market, by 2028

Dew Briefs:

• investment approximately Rs 2,000 crore by 2028
• Prompt Electric Vehicle Gorkha
• In EV investment approx 200 to 300 crores

Diver insights:

• Force Motors, an automaker, intends to invest approximately Rs 2,000 crore in the next three to four years.
• The investment will be allocated to various activities, including sustainability initiatives and the development of electric vehicles.
• The Managing Director of the company, Prasan Firodia, confirmed the investment plans in an interview with PTI.
• The investment will cover conventional engines, electric vehicles, engineering facilities, and the creation of a more sustainable environment.
• Force Motors showcased its Traveller Electric, Urbania Diesel, and Traveller CNG at the Bharat Mobility Global Expo.
• The company is committed to electrification but will continue producing conventional engine vehicles as well.
• The initial investment in electrification is estimated to be around Rs 200 to Rs 300 crore.
• The first electric offering from Force Motors will be the Traveller Electric.
• The company plans to electrify various variants of the Traveller every six months and aims to introduce an electric version of the Urbania by the end of next year.
• Force Motors is also working on non-passenger transport and exploring electric options for vehicles like the Gurkha.