Electric Ambassador: One of the most well-known cars in the nation is the legendary Ambassador. However, the sale of this vehicle has been discontinued. The renowned business known for producing the Ambassador car, Hindustan Motors, is reportedly preparing to make a comeback once more by getting into the electric vehicle market.
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Electric Ambassador
By teaming up with a European automaker, Hindustan Motors hopes to boost its EV business. Nevertheless, there is still a lot we don’t know about the business. The Memorandum of Understanding (MoU) between Hindustan Motors and the European EV producer has been announced as having been signed.
Presently being discussed by both producers is the equity arrangement. According to the present proposed structure, the European brand will own 49% of the company, leaving Hindustan Motors with 51% of the equity.
EV plan
This joint venture will produce electric two-wheelers in addition to electric vehicles. Actually, an electric scooter will be the company’s initial offering. Customers have expressed satisfaction with the electric scooter or bike. Market growth for electric two-wheelers is steady and at an all-time high.
Initial production of the electric vehicles would take place at Hindustan Motors’ Uttarpara factory in West Bengal. Up until 2014, this facility was in operation. About 600 crore rupees would be invested in the joint venture.
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