Godawari Electric Motors announced that over the next three years, company will invest Rs 100 crore to create new electric goods and strengthen its nationwide sales network.

With the release of the EbluFeo, priced at Rs 99,999 lakh, the Raipur-based company entered the market for electric two-wheelers on Tuesday.

"We have invested around Rs 100 crore on the business so far. Over the next three years we plan to invest another Rs 100 crore on new product development, enhancing quality and expansion of sales infrastructure, " Godawari Electric Motors CEO Hyder Khan told PTI.

He noted that with the launch of the EbluFeo, the company now also plans to ramp up its sales network across the country.

"Wth the new product on the road, we will go all out now and will have 50 dealers by September-end. By the end of this fiscal we aim to have 100 dealers," Khan said.