NEW DELHI: Shares of Scooters India hit upper circuit of 5 per cent on Monday after the state-owned company on Friday informed bourses about its plans to venture into the electric vehicles (EV) segment, including bringing back the once popular Lambretta brand in electric version.The board of directors of the company at its meeting held on Friday took note of diversifying its product range in line with the upcoming EV market in the country, Scooters India Ltd (SIL) said in a regulatory filing.
The scrip jumped 5 per cent to Rs 37.80 in early deals.
The company is in discussion with BHEL, NTPC, EVI Technologies, Murata Technologies, Japan Sun Mobility Xnrgi, USA for technology or logistics partnerships.
The company further said it intends to develop Vikram electric three-wheeler in both passenger and goods carrier segment.The passenger variant will have seating capacity of four, including the driver, the goods carrier will be in the sub-one ton category.It is already informed that SIL has ICAT approval for its 6+1 variant namely Vikram-EV and Electric Vehicle Load carrier of 1250 GVW.
The company is planning for commercial launch of the same shortly, it said in a BSE filing.In the electric two-wheeler segment, the company said it planned to bring in Lambretta EV.Scooters India also said it intends to develop electric four-wheeler of sub-two tons in both passenger and goods carrier segments.