Wednesday, February 21, 2024

AVERA eyeing global market

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AVERA an electric two-wheeler manufacturing company in Vijayawada has leaped into the global market making its presence in countries like Australia, Vietnam, and Sri Lanka. The Company has already initiated pilot projects in Vietnam and Sri Lanka and is likely to begin its activities in Australia by November, said the company CEO Dr Akula Venkata Ramana.

He said that the company has plans to expand with an investment of Rs 100 crore to increase production from 25,000 units per annum to 1,00,000 units per annum and cater to emerging needs abroad in Australia, Vietnam and Sri Lanka.

The CEO said the battery is the main component in the vehicle and is imported right now, the company is assembling batteries comprising packs of Lithium Ferrous Phosphate (LFP) cells sourced from China. These are operated with the battery management systems procured from a vendor manufacturer in Taiwan. Batteries made of LFP cells are suitable for Indian weather and have an impressive life span of 57 years. They are also easily recyclable and convenient to use.

He further said that the company has started its R & D in 2014 and the first product Retrosa and Retrosa Lite was rolled out in May 2019 and a new model, Vincero has just been released.

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