Faridabad based electric three-wheeler maker Euler Motors has planned to boost production to 1,000 units a month from 100 after its new plant in the outskirts of New Delhi starts operations in the current quarter.
The company is expecting its order book to swell to 15,000 units by the end of the financial year from over 9,000 currently, buoyed by strong demand, said Euler CEO Saurav Kumar.
Euler Motors, which counts Walmart Inc-backed e-commerce firm Flipkart and Tata-backed grocery delivery firm BigBasket among its customers, recently raised $60 million in a funding round led by GIC Singapore.
The Indian government is also offering companies billions of dollars in incentives to locally manufacture EVs and their parts.
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