Virtus Motors Expands Production Capacity and Research Capabilities for EV with New Facility in Faridabad, Haryana
Virtus Motors has unveiled its ambitious plans to increase its assembly capacity to 24,000 electric cycles per year with the help of its new 12,000 sq. ft. facility in Faridabad, Haryana. This facility will not only serve as an R&D centre for new motor tech, manufacturing technologies, advanced batteries, and EV electronics but also leverage the area’s numerous auto component makers to expand its retail presence in 20 metro cities and 50 mini-metros across India.
Virtus Motors has a mission to provide high-quality, affordable, and environmentally sustainable electric vehicles that are accessible to everyone. With the backing of its investors and dedicated team, Virtus Motors aims to establish itself as a prominent leader in the electric vehicle industry.
Kamal Gupta, MD Polyplastics Industries India, has expressed that Virtus Motors’ vision and leadership towards the need for electric vehicle integration aligns with Polyplastics’ mission statement and capabilities to manufacture at scale. Together, they have the potential to manufacture any product that consumers want in the EV and energy storage services spectrum.
Thanks to the new facility, Virtus Motors will have the capacity to produce 24,000 units of electric cycles annually, which will significantly boost its growth plans. The company is also thrilled to announce that Polyplastics India has agreed to fund its growth plans in the form of an equity and debt arrangement. Virtus Motors also plans to introduce new electric cycles and a high-speed electric 2-wheeler in 2023.
Contact Virtus Motors to learn more about its electric vehicle offerings and growth plans.