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Strom Motors receives bookings worth Rs 7.5 cr for R3 model

Strom Motors receives bookings worth Rs 7.5 cr for R3 model
outlookindia.com
1970-01-01T05:30:00+0530
Mumbai, Mar 15 (PTI) Little-known electric vehicle-maker Strom Motors on Monday claimed that its only model Storm R3 has received bookings for 165 units worth Rs 7.5 crore.

The yet-to-be-launched car is priced at Rs 4.5 lakh and at that price the order volume runs into 165 units.

The city-based Storm Motors founded in 2016 by Pratik Gupta and Jean-Luc Abaziou opened bookings four days ago for Delhi-NCR and Mumbai, where it plans to make the deliveries in the first phase, Gupta told PTI.

He said deliveries will begin by early 2022 and in the second phase, they will begin deliveries to other cities like Bengaluru and Pune on a priority basis as they got some bookings from those cities too.

Gupta said they were planning to launch the R3 last April, but it was postponed due to the pandemic.

Strom-R3, its sole model, is a 2-door-2-seater and is an ARAI-certified vehicle. It uses a 48V battery, offering a 200-km range.

Gupta, who had earlier worked with a NASA supplier in Washington, said they have a plant in Kashipur in Uttarakhand with a monthly capacity of 500 units.

The firm will be launching R3 in the lower range of 160 km and 120 km in the second phase when it will target first-time car buyers too. The first launch is mainly targeted at the second car buyers, he added.

Strom is sourcing batteries from LG Chem and the motor from Kirloskar, Gupta said, adding he also looking at fundraising to fuel growth and as it moves closer to deliveries.

The company was seed-funded by the Indian Angel Network, he said, but refused to share details. PTI BEN BAL

BAL


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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