Thursday, Jan 21 2021 | Time 21:11 Hrs(IST)
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  • Konark to be developed into a world-class tourist destination
  • Govt committed to resolve boundary issue, says Meghalaya CM
  • Heroin, Opium worth Rs 6 cr seized in Anantnag, 1 held
  • Authority waived covid test for entering Sri Jagannath temple
  • Modi to virtually inaugurate year-long events on Chauri Chaura incident
  • Five dead in fire at Serum Institute of India in Pune
  • Lalu and left trying to make Bihar, a graveyard of Industries: Modi
  • Odisha Congress MLA opposes Bharatmala Pariyojana project
  • Delhi Metro: First tunneling drive of Ph-4 started at Vikaspuri
  • Five die in fire at Pune Serum Institute; Covishield production not hit
  • Jamaat-e-Islami Hind to spread message of humanity & peace through weeklong campaign in Maha from tomorrow
  • Plans to fast track development process towards transforming Meghalaya into model state says Sangma
  • COVID-19 Vaccination begins in remote North and Middle Andaman
  • Nitish Kumar directs to accelerate the pace of construction of Gurudwara in Rajgir
Business Economy


China-based DAO EVTech to set up first electric two-wheeler unit in India by 2020

Hyderabad, Dec 16 (UNI) Chinese electric two wheeler maker, DAO EVTech on Monday announced to set up its first manufacturing unit in India at Krishnapatnam in Nellore district of Andhra Pradesh by 2020 and the low speed first electric two-wheeler will hit Indian market by Feb next year.
Initially, the company would assemble vehicle from a temporary leased facility at outskirts of Hyderabad in Telangana and roll out low speed e-vehicles by Feb 2020 and hi-speed two wheeler e-vehicle by April , 2020, said DAO EVTech Director and Chief Financial Officer Balaji Achutuni i in a press conference here.
The company would invest up to $ 100 million in India over the next three years for setting up of automobile complex including manufacturing of cell batteries in Andhra Pradesh, he said in the first phase, we will invest about $ 30 million and gradually scale up the investments in a phased manner by creating entire ecosystem.
We already asked the AP government to provide 200 acres for the proposed plant, he said the proposed plant capacity would be around 5 lakh units per annum, however, we would produce between 500- 1000 units per month from the leased facility in Telangana.
Our price would be competitive against other competitor’s, he claimed and said currently 2-3 main companies are producing 2 lakh EVs annually against 75 lakh fuel based two-wheeler vehicles.
The market was very huge and it would take lot of time to migrate all fuel based vehicles into EV as the government of India targeted 30 per cent EV penetration by the year 2030, he added.
DAO EVTech Chairman and CEO, Michael Liu said that we decided to start from Andhra Pradesh and Telangana states because of rich country market reflected by the rice bowl of India and affluent middle class created from global outsourcing service.
After gaining 25 years of work experience in the global electric motorcycles industry, Michael said we decided to enter the Indian market with the objective to ride into a green future with Indian customers. The Urbanization of India is set to go up needing electric mobility.
DAO EVTech Chief Operating Officer Lana Zou, said, “We are making Internet Empowered Vehicles by developing and introducing the new technologies into India for the first time. Our warranty programme will be the best on the market which comes from our rigorous product development and manufacturing process.
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Gemopai Electric announces launch of four dealership stores across AP, Telangana

21 Jan 2021 | 5:55 PM

Hyderabad, Jan 21 (UNI) Gemopai Electric, a value-for-money Electric Vehicles (EVs) Manufacturer in Gurgaon, on Thursday announced the launch of four dealership stores across Andhra Pradesh and Telangana.

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Rupee up 4 paise against USD

21 Jan 2021 | 5:23 PM

Mumbai, Jan 21 (UNI) The Rupee on Thursday moved up by four paise to close at 72.99 against the US Dollar on selling of US Dollars by bankers and exporters, dealers at the Forex Market said.

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General Aeronautics, Unmanned Aerial Vehicle Specialist, Raises INR 65 Million Pre-Series A Funding

21 Jan 2021 | 5:22 PM

BANGALORE, India, Jan. 21, 2021 /PRNewswire/ -- General Aeronautics (GA), a specialist in Drones for precision agriculture, today announced a INR 65 million pre-series A financing led by Mela Ventures. With the investment, GA will expand its go-to market programs, and will continue to invest in the areas of high reliability and efficient spraying, operational support including training Drone Pilots.

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Panchshil Office Parks Honoured with 3 Safety Oscars

21 Jan 2021 | 5:20 PM

- Eon Free Zone-1, Business Bay & Tech Park One Campuses Conferred the Highest Health & Safety Accolade by British Safety Council
PUNE, India, Jan. 21, 2021 /PRNewswire/ -- Panchshil Office Parks—a unit of Pune-based Panchshil Realty— today announced that it has won 3 prestigious Swords of Honour from the British Safety Council for 3 of its marquee office campuses in Pune.

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Sensex falls 167 36 pts

Sensex falls 167 36 pts

21 Jan 2021 | 5:15 PM

Mumbai, Jan 21 (UNI)The BSE Sensex on Thursday slipped by 167.36 pts to settle at 49,624.76
on selling in Realty, Telecom, Metal and Materials stocks.

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