London-based Laureti Automotive Corporation is planning to launch an electric SUV, DionX, in India in 2021. The company's move is aimed at providing clean mobility solutions in the country.
Laureti is further in the process of investing $370 million to establish a manufacturing facility at Puducherry with an initial capacity of 10,000 vehicles per annum which could be scaled up to 20,000 units by 2023. This facility would manufacture and assemble the DionX and its components.
Marcus Paleti, CEO of Laureti Automotive Corporation, said, "This facility is scheduled to commence operations in the third quarter of 2021. The model, which company claims to have a range of 540 km on a single charge, would be launched simultaneously in European and Indian markets in 2021."
"The state government (Puducherry) has been proactively assisting us over the past 14 months to set up the facility, that ensures an investment of USD 370 million," Paleti further stated.
