A Joint venture of India based ETO Motors and Hong-Kong’s KYTO Green Technologies, KETO is planning for an investment of US$ 10 million in the next two years for manufacturing electric auto-rickshaw in India.
The investment would set up a new manufacturing facility, and it would produce 50,000 units a year. Moreover, the funds would be utilized for research and development of the product.
KETO’s flagship of the product was displayed for the first time at 8th Eco-friendly Electric Vehicles Expo, held at New Delhi.
“KETO is likely to invest US$ 10 million in the coming two years, and the funds will be utilised for setting up a new plant with a capacity of 50,000 units annually, and towards R&D 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,” said Balram Narayankar, Director of KETO.
Indian market Strategy
The company’s e-autos are designed as per the EU standards and come in three variants namely – Kyto 5, Kyto 3 and Kyto Cargo to cater to the various needs of the Indian customers. Kyto 5 and Kyto 3 are the passenger vehicles, with a capacity of five-seater and three-seater respectively. As the name suggests, Kyto Cargo is designed to for the purpose of carrying goods and collection of waste.
“Electric auto-rickshaws are a revolution in the public transportation and cargo sectors, and India will witness this change unfold across the country, starting today. Our vehicles are superior in performance and style and are designed from the ground up as electric vehicles by an expert team of automotive engineers,” said Grayson Richards, Managing Director, KYTO Green Technologies.
The e-autos of KETO would be available with features like automotive driver seat with three-point seatbelt and headrest, foamed rear seat having high back and two-point seatbelts for the safety of passengers and a steel rear bumper with collapsible crush structure to absorb low impact collision forces.