The new two-wheeler company, Stella Moto, is all set to enter the two-wheeler market in India. The company will be backed by the Jaidka Group in India, which has been operating in the electric vehicle space for more than six years.
Stella Moto manufactures electric three-wheelers for cargo carriers and passenger segments. In addition to offering high-class electric bikes, Stella Moto promises to keep prices competitive. As part of the Jaidka Group, Stella Moto has a strong market presence in transportation, automobiles, and logistics across India. The company will manufacture its products at its plants in Hosur, Tamil Nadu, and Howrah, West Bengal.
The owner of Jaidika Gupta, Gopal Jaidika mentioned that his company had been creating a strong research and development technology infrastructure to make electric vehicles over the past few years. “We are now prepared to introduce these vehicles with the best range, among others. We’ve been watching the Electronic Vehicle space evolve over the last few years and have identified some gaps, which we intend to fill with our new product offerings," he said to the Times of India. He also added, “We are now prepared to introduce electric vehicles with the best range, quality features, and design in the country and beyond. We have been watching the electronic vehicle space evolve over the last few years and have identified some gaps, which we intend to fill with our new product offerings and are confident will be appreciated by end users."
Stella Moto aims to establish retail outlets in major cities and has already appointed 55 authorized dealers. It plans to appoint another 200 in the coming year. The company hopes to sell over 10,000 vehicles by the end of the financial year, FY23. As part of the company's plans, production will be locally sourced completely by 2024.
