CEO, Energy News, ET EnergyWorld
In an exclusive interview with ETEnergyworld, Raghu Kerakkaty, CEO and co-founder, Toutche Electric said the company’s planned investments would be in a new manufacturing plant, product development, expanded design and engineering teams. and technology. The company is in talks with investors in the UK and India.
He said the capital investment so far has been mainly spent on product development, technology platform development and inventory. âThe majority of the capital investment so far has come from the two co-founders as well as some additional investment from their nearby network,â said Rahul.
The company started its activities in 2015 and starts manufacturing electric bicycles. It has a manufacturing plant in Mysore and the R&D department operates from Bengaluru.
âWe are starting to modernize our factory where we will be able to grow up to 2,000 units per month, bringing the manufacturing capacity to 25,000 units per year. And most likely expandable to 40,000 units by next year, âhe said. He said the volume the company is considering as manufacturing capacity exceeds 1.5 lakh per year.
Speaking about government programs such as FAME 1 and 2, he said they might not be of long-term benefit. âSubsidies are good, but it’s a populist policy. It helps people adopt electric vehicles, but it’s something we shouldn’t expect from government for the next 10 years because then only taxpayer money goes into grants, âKerakatty said.
Regarding the pace of electric vehicle adoption in India, he said that 40-50% of vehicles sold in the country will be electric vehicles after 2025. âWe will be slow in the next 4-5 years, but after 2025, 40 to 50% of the bikes sold will be electric vehicles, âhe said.
Commenting on the electric bikes the company is currently making, he said they come with batteries inside the tube which is detachable from the bike for charging.