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PNN
Ahmedabad (Gujarat) [India], July 9: Jindal Mobilitric, a division of M/s. Jindal Worldwide Limited, as "JWL" (here in M/s. Jindal Mobilitric Private Limited ("the company") is a subsidiary of JWL), has revealed its EV model, which gives a range of 165 km, one of the highest in the industry. The company has submitted its products for homologation and is expecting government approval soon. As soon as the approval comes into place, the company plans to launch its products through the dealer network it has established. The company has 35 dealers and is planning to go up to 100 in the next year. The production facility is ready and will launch the product as soon as the approvals are received by the company. The new EV marks Jindal Worldwide's strategic foray into the fast-evolving electric mobility sector through Jindal Mobilitric. The company has submitted the model for homologation and is currently awaiting the necessary approvals from the authorities. Once cleared, the vehicle will be rolled out through the firm's established dealer network. Currently operating with 35 dealers across India, Jindal Mobilitric aims to scale up to 100 dealerships over the next year. The production facility is fully operational and prepared to launch the model and deliveries as soon as approvals are in place. Commenting on the development, a spokesperson of Jindal Worldwide, said, "Electric mobility is the future of transportation and our foray into EV production is a strategic and significant milestone for us. The research and development of the EV has been done in-house, and we are excited about its launch." Jindal Mobilitric has set up a manufacturing plant with production capacity of 2.5 lakh vehicles per annum at Ahmedabad. It has also set up an in-house fully automated battery manufacturing plant with similar production capacity. The objective of setting-up an in-house battery plant is to ensure highest level of battery safety to ensure greater trust in EV products and contribute to faster adoption of EVs in India. Further updates, including timelines and specifications of the EV, will be made available on the company's official website and social media channels. The company's consolidated net profit rose 42.10% to Rs 25.01 crore on a 52.41% increase in net sales to Rs 630.51 crore in Q2 FY22 over Q2 FY21. About Jindal Worldwide: Jindal Worldwide, a flagship company of Ahmedabad-based Jindal Group, is a diversified and integrated textile fabrics and shirting manufacturer and one of the world's largest denim fabric manufacturers. Beginning with the EV venture, the company is diversifying into new high-growth business opportunities. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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