A senior official stated on Thursday that Hindustan Motors Ltd., which is owned by C. K. Birla, and its European partner have completed due diligence for the proposed electric two-wheeler project.
The electric vehicles are likely to be introduced by the joint venture in the upcoming fiscal year at the Uttarpara plant in West Bengal owned by Hindustan Motors.
“HM and the European company have completed their due diligence.The foreign partner’s name will be announced soon, an Indian company official told PTI.
The two companies will then investigate the possibility of entering the electric four-wheeler market with a combined investment of approximately Rs 600 crore for the EV project.
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