Another 1 Lakh Car - Ajanta's Cheap car with Chinese


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Ajanta, the makers of quartz clocks and home appliances, is planning to buy an electric car manufacturer in the Guangzhou province of China, as it plans to launch a sub-Rs 1 lakh car in the Indian market.

The Rs 1,500-crore company, which also makes electric bikes, vitrified tiles and CFL lamps, has made a layout of Rs 100 crore to acquire an existing assembly unit of an undisclosed carmaker, which can roll out 5,000 units a year.

The deal is likely to be inked within this year, as valuations are currently low.

An executive in the company, who did not wish to be named, said the group would come out with its own brand ‘Oreva’ for the cars and indigenous design, so that it suits the urban population that it intends to target. Oreva, derived from the names of Ajanta’s founder OR Patel and his wife Revaben, is an existing brand for its tiles.

Ajanta Group director Jaysukh Patel refused to comment on his acquisition plans. He, however, said:
We have not yet decided on it, but are seeking the government support, so that we can develop cheaper vehicles for the Indian market. VAT and excise duty put together make almost a fourth of the total manufacturing costs of the vehicle. If the costs are lowered, we are capable of manufacturing battery-powered cars at Rs 1 lakh or less
The acquisition will help the company acquire technologies for moulding, designs and battery production, among others. Also, it would help in creating and establishing a new market for electric cars in India.

Two years ago, the group ventured into two-wheeler electric vehicles with an investment of around Rs 300 crore. It manufactures close to 10,000 bikes every year at its Kutch facility.

Mr Patel, along with his father and uncle Manubhai Patel (who now runs the Samay Group), had launched Ajanta clocks in the early 1980s. He stunned the market with sub-Rs 100 clocks, has already designed a prototype of the vehicle and is personally driving it around on his 400-acre manufacturing facility near Morbi, near Rajkot. The prototype runs 120 kms per one charge of 7 units of electricity, costing nearly Rs 35 per charge.

Mr Patel said
We have designed more than 10 battery-powered cars of four-seater and six-seater capacity and are testing them now.
He also claimed that the six-seater would cost nearly Rs 1.5 lakh, while four-seater can be available at Rs 1 lakh.

Source - Economictimes
 

vijay

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wow, four seater as well as six seater electric cars, good to hear this.What remains to be seen is the practical module and car on road, ASS department across atleast few cities when launched, reliability, just giving sub 1L car isnt everything.Samay group is known for its quality in watches,clockes as well as now for vertified tiles.Hope they can deliver the same in automobiles as well.Planning to go morbi next month, hope to catch something there.
 
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Two years ago, the group ventured into two-wheeler electric vehicles with an investment of around Rs 300 crore. It manufactures close to 10,000 bikes every year at its Kutch facility.

Is this for the export market? I did not know Ajanta was into bikes and was manufacturing 10 K every year. Which market is this for?

Vroom
 

350Z

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I see the "cheapest" car segment evolving. Some images of Ajanta Oreva, Atleast we can be assured that this car will feature a small clock as standard. Lol.




Drive Safe!
350Z
 

Arun

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O[Reva]. Hope you get what I mean.

Weird. Really weird car. Hope it doesn't work on the clock's mechanism. [lol!]
 

vijay

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Two years ago, the group ventured into two-wheeler electric vehicles with an investment of around Rs 300 crore. It manufactures close to 10,000 bikes every year at its Kutch facility.

Is this for the export market? I did not know Ajanta was into bikes and was manufacturing 10 K every year. Which market is this for?

Vroom
They sell with Oreva brand.
Even i am not sure if i have seen any.

Image
have seen them in gujarat's cities, more in ahmedabad,vadodara and more of saurashtra cities.
 
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Worst!

Now it is fashion of making ULCs.

A Legendary manufacturer Dreamed! We agreed!

But why everyone make it as a business now!
 

napster

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It looks more like the nano, what is more interesting in this so that people will opt for this ?
 

Arun

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Doing laps in an electric? Not my kind sriharsha. I'll be faster riding a cycle. [lol!]


OT:
It looks more like the nano, what is more interesting in this so that people will opt for this ?
Your shift key works! [lol!]
 

Akash

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Even Bajaj will be launching a competent of NANO in the year 2012. i saw this newspiece on NDTV.
 
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