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EV manufacturer BNC to invest ₹100 crores

Electric vehicle manufacturer Bharat New-energy Company, or BNC Motors, as it is known, will invest ₹100 crores in the next 18 months to increase its production capacity and release new products.

Anirudh Ravi Narayanan, CEO and co-founder of BNC Motors, told The Hindu that the company will launch a scooter brand-named Perfetto in the coming months, which has been developed in partnership with Musashi Seimitsu, a Japanese company. BNC will also launch a Bike named Boss, which has been developed in house.

The company is also setting up a new production facility in Coimbatore to manufacture three lakh vehicles annually. “We started sale of two-wheeler EV (brand-named Challenger) recently and hope to sell 1,000 units a month in the domestic market by the end of this financial year. Export demand is also good for the vehicle, especially in African countries and we export to a few countries. We are a vertically integrated company with 90 % of the supply chain located in Tamil Nadu. We have invested ₹100 crores so far and will invest another ₹100 crores (under PLI Scheme) within the next 18 months,” he said.

The company is also considering increasing its dealer network in the southern States by the end of fiscal 2023-2024.

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