This Taiwanese Auto Maker is Foraying into India to turn its EV Dream into Reality

The collaboration between both the companies will provide a flow smart electric scooter equipped with the lonex technology by 2019

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By Komal Nathani

Twenty Two Motors

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The two-wheeler auto maker, KYMCO forays into India in partnership with Haryana-based Twenty Two Motors. The Taiwanese auto manufacturer will invest $65 million in electric scooter maker Twenty Two Motors Pvt. Ltd. over the next three years. The collaboration between both the companies will provide a flow smart electric scooter equipped with the lonex technology by 2019.

Talking about its foray into India sub-continent, Allen Ko, Chairman, KYMCO says, "KYMCO is on a social mission to change the modern transportation and India is one of the most important markets from that point of view. We found a natural partner in Twenty Two Motorsas we have synergies in terms of vision, technological innovation and outlook. Together we aim to change the landscape of urban mobility in India. "

"While Ionex enables consumers to go electric without compromise, businesses and governments need to have reliable solutions for charging stations, removable batteries and related IT support systems before they opt for EVs.And therefore, Ionex Commercial is here to provide a total package to empower and enable all businesses and governments to adopt premium electric mobility", he adds.

Under this strategic alliance, KYMCO is bringing its cutting edge, electric vehicle total solution- Ionex and Ionex Commercial, to enable consumers, businesses and governments to smoothly adopt premium electric mobility. Lonex is a technology that eliminates all barriers for consumers to go green. Its tailor-made EV turnkey solution for commercial entities integrates world-class experts from every necessary field and comprises of a complete arrangement of electric vehicles, charging facilities, removable batteries and advanced IT systems.

Speaking about the joint-venture deal, Parveen Kharb, co-founder and chief executive of Twenty Two Motors said in a company's press release that the association will help both the companies strengthen their operations.

Kharb says, "We envisioned facilitating Indian customers with smart EV vehicles and a proper infrastructure with charging stations and efficient battery and our partnership with KYMCO is the next step in this direction. This unique partnership will prove to be a revolution for the fundamentals of the Indian auto sector which no one expected so far as we shall be creating a completely new ecosystem for premium EV mobility in India."

The entry of KYMCO indicates the brighter future ahead of India's electric vehicle industry. Lately, a lot of foreign players have invested in India's automobile industry, following the government's vision of having electric vehicles by 2030 in India.

Komal Nathani

Former Correspondent, Entrepreneur Asia Pacific

A firm believer of hard work and patience. Love to cover stories that hold a potential to change the momentum of business world. Currently, a part of all-women web team of Entrepreneur’s Asia Pacific edition to jig the wheel of business journalism!

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