as it looks to harness its 12,000 sq. ft. facility in Faridabad, to increase their assembly capacity to 24,000 electric cycles per year.
Virtus Motors aims to expand its retail presence in 20 metro cities and 50 mini-metros to create a country-wide service network.
It aims to increase its assembly capacity to 24,000 electric cycles per year, at its new Faridabad-based 12,000 sq. ft. facility, which will also serve as an R&D center for research on manufacturing technologies, new motor tech, advanced batteries, and EV electronics.
The Faridabad-based electric vehicle firm has also reached an equity and debt arrangement with Polyplastics India, a vehicle accessories manufacturing company. The firm intends to introduce new electric cycles and a high-speed electric 2-wheeler in 2023, besides hiring more than 100 people.