The Anand Group intends to spend between $100 and $150 million in future transportation businesses, with an emphasis on electric vehicles.
The company, which has successfully run over a dozen joint venture businesses in India for over six decades, is already looking for acquisitions, including partnerships in the United Kingdom, Europe, Israel, and Japan, among other markets, to participate in the entire value chain of electric vehicles, from batteries to motors to charging systems for two-wheelers and cars.
The company wants to be one of the top three EV component companies in the country, with a half-billion-dollar revenue potential in the next five years.
