The demand for electric vehicles in the world is increasing day by day. To save the environment, all the big and small companies are trying to increase their business by seizing electric vehicles. This time Hindustan Motor is returning with a new generation electric vehicle after a long eight years.
Hindustan Motors recently signed an agreement with a European carmaker. Although the identity of this European organization has been kept secret. According to sources, Hindustan Motors is currently going on its second journey with an electric scooter. Where they are going to invest around 300 to 400 crore rupees.
Hindustan Motors, a member of the Birla group, started manufacturing cars at Uttarpara in Hughli in 1948, exactly one year after independence. After working successfully for many years, the journey came to an abrupt end in 2014. However, this time after eight long years, Hindustan Motors is going to return once again. At present, they are going to re-enter the car market with two-wheelers.
Uttam Bose, Director, of Hindustan Motors, said, “We have signed an agreement with a European company. Currently, our goal is to make two-wheelers. Work is expected to begin by March next year. We now have 26 acres of land. Once everything is settled, the work will proceed faster. ‘
Uttam Basu also said that Hindustan Motors has now been able to get out of debt due to the financial measures taken in the last few years. Recently the total assets of the company have reached positive. In October 2014, the debt-ridden company issued a notice of strike at the Uttarpara factory. At that time the number of employees of the company was 2300. Which has now been reduced to 300.
But now they have repaid the loan. Initially, they wanted to work with Chinese electric scooter manufacturers. But later they decided to work with the European Union.