Virtus Motors’ New Facility to Expand Production Capacity and R&D Efforts

Faridabad, India – Virtus Motors, a leading electric vehicle company, has announced its plan of action to utilize their new 12,000 sq ft facility in Faridabad, Haryana, to increase their assembly capacity to 24,000 electric cycles per year. The facility will also serve as an R&D center for research on manufacturing technologies, new motor technology, advanced batteries, and EV electronics. The company has carefully chosen Faridabad, an industrial hub in the Delhi NCR region, as its site to profit from the area’s numerous auto component makers and its geographic advantages for transportation and logistics. It plans to leverage these advantages to expand their retail presence in 20 metro cities and 50 mini-metros and create a country-wide service network.

The new facility will give the company the capacity to produce 24,000 units of electric cycles annually and will be a significant boost to its growth plans. The company is also pleased to announce that Polyplastics India, a renowned vehicle accessories manufacturing company, has agreed to fund their growth plans in the form of an equity and debt arrangement. Given the success of the company’s current range of electronic cycles, they are eager to keep innovating and expanding their offerings. The company intends to introduce new electric cycles and a high-speed electric 2-wheeler in 2023, and is also in the process of hiring over 100 people across various domains.

Thrilled to expand the production capacity and open a new R&D center in Faridabad, Tushaar Bajaj, Co-founder and Director, Virtus Motors, commented, “Our goal is to provide high-quality, affordable electric vehicles that are both environmentally sustainable and accessible to all. With the support of our investors and the hard work of our team, we are confident that we will be able to achieve our mission and establish ourselves as a prominent leader in the electric vehicle industry.”

To this end, Kamal Gupta, MD Polyplastics Industries India, added, “The leadership and vision of Virtus Motors towards the need for EV integration in India is aligned with Polyplastics mission statement and capabilities to manufacture at scale. By creating immediate value for each other, we are now an R&D and manufacturing powerhouse. Together, we hold the ability to visualize and manufacture any product that our consumers dream of in the EV and Energy storage services spectrum.”

Image Source: Virtus Motors

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