EV co Raptee to invest Rs 85 cr in Chennai unit
Announcing the opening of the facility, spread over 3 acres, the former executives of Tesla backed company said it will also house a majority of its research and development team. It will serve as the primary production plant for the next 24 months.
Premium EV motorcycle startup Raptee team
MUMBAI: Premium EV motorcycle startup Raptee on Thursday said it plans to invest Rs 85 crore in its newly opened manufacturing facility in Chennai with a capacity of 1-lakh units per annum.
Announcing the opening of the facility, spread over 3 acres, the former executives of Tesla backed company said it will also house a majority of its research and development team. It will serve as the primary production plant for the next 24 months.
The new factory is expected to roll out the first motorcycle later this year, the company founded by four engineers from Chennai said.
“This is a huge leap forward for us. We are at an inflection point where we move from a small R&D outfit to becoming a full-blown OEM,” Raptee co-founder-CEO Dinesh Arjun said.
The company said the R&D centre will house on-site development and testing facilities and will aid in future products. The plant will also have a dedicated battery pack assembly line.
Early this year, Raptee got a grant of Rs 3.27 crore from the Automotive Research Association of India under the AMTIFs Industry Accelerator programme as a part of the Capital Goods Scheme by the Ministry of Heavy Industries.
“The facility is big enough to cater to the growing size of our team for the next two years. From a manufacturing capacity standpoint, it also gives us enough flexibility to meet the customer demand from the time of launch,” said Jayapradeep Vasudevan, chief business officer at Raptee.
