Jindal Mobilitric (JM), subsidiary of Jindal Worldwide, announced setting-up of an electric 2-wheeler manufacturing plant with production capacity of 2.5 lakh vehicles annually at Ahmedabad.
In addition, JM is also setting-up in-house fully automated battery manufacturing plant with similar production capacity.The objective of setting-up in-house battery plant is to ensure highest level of battery safety which will bring consumer trust on EV Products resulting in faster adoption of EV in India.
In similar lines, JM forays into Nepal market by finalizing its first overseas exclusive experience center in Kathmandu. In addition, JM is announced its entry in 40 cities of 10 states of India with exclusive dealership network by now.
JM is planning to launch electric 2-wheeler range of products in the month of April 2023, targeting premium, executive and mass segment consumers.
Jindal Worldwide is the flagship company of Ahmedabad-based Jindal Group. Its product profile consists of denim fabric, yarn dyed shirting and bottom width, as well as export-centric home furnishing items.
The company's consolidated net profit rose 42.10% to Rs 25.01 crore on a 52.41% increase in net sales to Rs 630.51 crore in Q2 FY22 over Q2 FY21.
The scrip shed 0.04% to Rs 460.25 on the BSE.
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