Entrepreneur, investor and philanthropist BK Modi’s Smart Global Group has entered into the electric vehicle segment. The Group will launch e-buses and e-taxis with its Hong Kong-based partner BYD Company Ltd.
Modi’s company, Smart Global Group, has tied up with BYD to help bring world class technology to the country.
“In an environment where development is being directed towards sustainable co-existence, I believe that this will be a highly successful project for the Smart Group,” said Modi, Founder and Chairman.
Unveiling the e-bus, he said the group has already invested ₹200 crore in a factory in Singapore. In India, it has a plant in ModiCiti (Uttar Pradesh) and there could be more plants in the future.
He also said the company’s investment could go up to $1 billion in the long-run. “We are focusing on metro and smart cities in the initial phase to cater to public transport. Later, we can also look at passenger vehicles too,” he added. The bus is fully air-conditioned with comfortable seating facilities, and has a battery life of more than 4,000 recharging cycles. It can cover a distance of 250 km with a fully charged battery, the company said.
Further, the battery used is recyclable, and addresses this environmental concern as well, it added.