AMO Electric Bikes, an Indian manufacturer of electric two-wheelers, plans to invest $200 million to increase production and strengthen its R&D capabilities.
According to the CEO, the money will either come from commercial banks or private equity firms.
“Currently we have planned investment worth ₹200 crore for capacity expansion, which will be in place by the end of December,2022,” said Sushant Kumar, founder & MD, AMO Electric Bikes.
“We plan to diversify our products to cater to and expand markets in North, South and West India, including states such as U.P., Karnataka and Maharashtra. We intend to capture these markets as they reflect high demand,” he said.
