The company's current peak capacity at its existing Jaipur plant is around 1000 units.
11 Oct 2022 | 14491 Views | By Shahkar Abidi
Causis E-Mobility, which recently received orders to supply 700 electric double-decker buses to Mumbai civic authority's transport division BEST, plans to increase production to 4000 units by CY23, according to Ravi Kumar Panga, the company's CEO. The company's current peak capacity at its existing Jaipur plant is around 1000 units.
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Causis E-Mobility, which recently received orders to supply 700 electric double-decker buses to Mumbai civic authority's transport division BEST, plans to increase production to 4000 units by CY23, according to Ravi Kumar Panga, the company's CEO. The company's current peak capacity at its existing Jaipur plant is around 1000 units.
Causis E-Mobility, part of the London-headquartered CAUSIS Group is into the manufacturing and supplying of electric vehicles and the associated infrastructure of chargers, in addition to renewable energy.
Causis E-Mobility said it has received approval from the Kalyan Dombivali Municipal Corporation (KDMC) to operate its EuraBus in its jurisdiction. The company has received a Letter of Award (LoA) for the procurement and maintenance of 107 fully built 9-meter, midi, pure electric air-conditioned and non-airconditioned buses with drivers and allied electrical and civil infrastructure on a wet lease basis for a period of twelve years.
Causis E-mobility signed an MoU with Maharashtra in October last year to establish an electric vehicle manufacturing unit near the auto belt of Talegaon in Pune, an estimated investment of Rs 2,800 crore. The project is slated to create over 1250 jobs. In phase 2, the company intends to build its own battery gigafactory for the production of EV batteries. Causis E-mobility has announced plans to establish an e-bus manufacturing facility in Kopparthi, Andhra Pradesh. Both the Pune and Kopparthi plants will have a capacity of approximately 1500 e-buses. "So, roughly, the company's vehicle capacity will be 4000 units by December 2023," said Panga.
In terms of fundraising, Panga has highlighted the BEST project as requiring an upfront investment of around Rs 1800 crore, and the company is in advanced stages of discussions with a consortium of banks in this regard. He also stated that the bank consortium has mandated that Causis E-Mobility provide approximately 25-30% equity funding, with the remainder coming from lenders. "Because this money will be needed over time as deliveries take place, I am confident that the Indian debt market will respond positively," Panga added.