New Rs 8 lakh EV coming soon
Electric cars are still trying to establish their base in the country. Manufacturers like Tata are doing good numbers, but they are nothing to the global averages. Still, there is a lot of EV potential in India and so we are seeing an influx of new EV manufacturers looking to set up their base in the country. Now another name has joined this list and that is Foxconn. To those of you who don’t know, Foxconn is a major electronics manufacturer and currently assembles iPhones in India. It soon plans to launch a small EV in India. In today’s article, let’s talk about this 8 lakh EV.
Foxconn’s plan
According to reports, Foxconn is working on a small electric car for India and Thailand. Foxconn is doing this through its EV subsidiary called “Mobility in Harmony”. The car it is planning will be based on a standardized EV platform for small battery-operated cars. MIH is looking to unveil the car at the Tokyo Auto Show in October.
Manufacturing
This small car we are talking about will be targeted towards the corporate fleet market. According to reports, it could be a 3-seater model. We think this could be a good option for final-mile deliveries. It could be priced around US$ 10,000 (8 lakhs INR) and US$ 20,000 (12 lakh INR). MIH plans to manufacture the car in India and Thailand its target audience to save on taxes.
8 lakh EV – Product plan
Mobility in Harmony plans to launch this 3-seater EV 18 to 24 months after it’s done with the unveiling. Going forward the brand wants to target large families. So it is planning to launch a 6-seater EV by 2024 and a 9-seater EV by 2025.
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