Sharing some notes from the past few interviews.
20.04.2023 ET
- Invested 40-45 cr. for assembly of L5 battery
- Need to give some more time to understand profitability on 3-wheeler EVs
- Have restarted exporting petrol 3-wheelers
03.05.2023 ET
- Didn’t get OBD2 certification in diesel engines (60% of sales), this was responsibility of vendor who has not managed to get it so far
- 10-12% from CNG, 10-12% from EV (L-3 vehicle)
- Commercial launch of L-5 will happen this month
19.07.2023 ET & ET Swadesh
- Received OBD 2 compliance certification for one product (rear engine product); awaiting approval for another (front engine product)
- Production line is ready, expect to bounce back to normal sales from this month (3500-4000 monthly sales)
- Repaid term debt via money raised from preferential allotment, balance amount will be utilized for working capital
- L5 vehicles: have received all certifications and are ready to launch, however launch will only be done once they received fame II approval (otherwise it’s not commercially viable)
Disclosure: Not invested (no transactions in last-30 days)
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