Project News Detail
| Project No : | 206461 |
|---|---|
| Project Title : | Cargo Matters commences electric bus manufacturing in Karnataka with Rs 318-cr facility |
| Company Name : | Private Company |
| Project Detail : | Homegrown tech-driven logistics enterprise Cargo Matters has officially launched electric bus manufacturing operations at its new 19-acre facility in Belagavi, Karnataka, backed by a strategic investment of Rs 318 crore. Homegrown tech-driven logistics company Cargo Matters has entered the electric vehicle manufacturing space by launching an EV bus facility in Belagavi, Karnataka. Spread over 19 acres at the KIADB Auto Nagar, the setup is backed by a Rs 318 crore investment and follows 18 months of intensive research and development. The factory will focus on producing electric buses for intercity travel. Under Phase 1, it will roll out 9-meter buses adhering to AIS052 standards for schools and universities, with subsequent phases targeting larger vehicles over the next 14 to 16 months. Initially, the plant will manufacture 25 buses per month, scaling up to 150–200 units monthly over five years. To address battery longevity concerns, Cargo Matters has secured a supply arrangement with China's CATL, featuring a 1.4-million-kilometer warranty. The New Delhi-headquartered global logistics firm eventually plans to expand the facility's production into long-haul electric trucks and urban delivery mini-vans. |
| Project Location : | Not Classified - Karnataka - India |
| Project Estimation : | Refer Document |
| Status : | Announced |