KETO To Invest $10 Million To Make Electric Auto rickshaws In India
KETO is a joint venture between India's ETO Motors and Hong Kong-based KYTO Green Technologies. The company plans to launch three e-Autos in India - Kyto 3, Kyto 5 and Kyto Cargo.
KETO, a joint venture between India's ETO Motors Pvt Ltd and Hong Kong-based KYTO Green Technologies Limited, has announced an investment of $10 million in India to manufacture electric auto rickshaws. The company announced its investment plan at the ongoing 8th Eco-Friendly Electric Vehicles Expo in India. The company, which showcased its flagship product for the first time at the expo, said that it aims to launch its Electric Auto rickshaw variants in the country that includes - Kyto 3, Kyto 5 and Kyto Cargo, catering to different segments in the Indian market.
Commenting on the launch of Kyto and company's future plans, Mr. Balram Narayankar, Director of KETO said, "KETO is likely to invest USD 10 million in the coming two years, and the funds will be utilized for setting up a new plant with a capacity of 50,000 units annually, and towards research & development of the product. Our focus is to make these vehicles accessible and affordable to all; so in addition to retailing, KETO is considering leasing options."
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The new Kyto 3 and Kyto 5 will be 3 and 5-seater passenger carriers, while the Kyto Cargo, as the name suggests, will be used for carrying goods and waste collection. KETO claims that that the vehicles will be stylish and upmarket in terms of looks and will provide a safer and more comfortable driving experience. The e-Rickshaws will also be high of safety, offers several segment-first features like - an automotive driver seat with headrest and 3-point seat belt, foamed rear seat with high back, and 2-point seat belts for passenger safety and a steel rear bumper with collapsible crush structure for absorbing low impact collision forces.
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