Dao EVTech to invest Rs 100 crore in Tamil Nadu

    Dao currently sells three products in India – Model 703, Zor 405 and Vidyut 108.

    Published On Mar 03, 2023 12:05:00 PM

    20,040 Views

    Dao EVTech plans to ramp up its operations in Tamil Nadu.
    Listen to this Article

    Dao EVTech, an EV scooter manufacturing start-up headquartered in Chakan near Pune in Maharashtra, has plans to invest Rs 100 crore in Tamil Nadu. The company currently has 22 showrooms operational across the country and with this investment, it has plans to grow that number. 

    Dao to expand dealer network in Tamil Nadu: details

     

    Dao EVTech already has active dealerships in Madurai, Pollachi, Coimbatore, and Thanjavur in Tamil Nadu. In particular, the 20 dealerships that Dao had planned to open in Chennai will all be operational within the next few months.

    The brand is now focusing on building and developing the dealership's connecting power; it will soon grow significant cities like Chennai as its centre for regular demand fulfilment in nearby Tier 2 and Tier 3 cities.

    Dr Michael Liu, chairman and CEO of Dao EVTech, stated, "Tamil Nadu market is crucial to any EV two-wheeler manufacturer. There are three basic reasons for this. The first is, Tamil Nadu's capital Chennai has the highest two-wheeler penetration rate of 73 percent, which is nearly double that of other major cities such as Mumbai and Bangalore. The EV segment is a growing business that is more focused on young individuals who embrace technology quickly, and the state has a large population, making Tamil Nadu an EV-friendly state."

    He further added, "We will continue investing $100 million in India  and in 2023, we'll set aside $20 million for the development of novel products... With our expansion strategy, we expect to generate 2000 new positions over the next two years.”

    Recently, the Tamil Nadu state government announced its EV policy which favours the manufacturing of electric vehicles. Ola Electric has also signed an MoU with the TN state govt. to set up a new EV hub in the state.

    Also See:

    Dao Model 703 review, road test

    Would you buy a Dao e-scooter over its more established rivals? Let us know in the comments section below. 

    Copyright (c) Autocar Professional. All rights reserved.

    Comments

    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now

    Search By Bike Price

    Poll of the month

    What do you think of Lewis Hamilton’s move to Ferrari?

    He’ll win his 8th F1 title with Ferrari

     

    34.94%

    He should have stayed with Mercedes

     

    19.34%

    No difference; Verstappen will still win the title

     

    45.72%

    Total Votes : 1122
    Sign up for our newsletter

    Get all the latest updates from the automobile universe