Bharat Alt Fuel plans ₹250 cr. EV manufacturing plant in Krishnagiri

Bharat Alt Fuel (BAF) announced the setting up of a ₹250-crore green facility in Krishnagiri to manufacture electric vehicles (EVs), batteries and motors.

“This integrated facility will be built over a land area of 40,000 sq.mts. Construction is expected to start by Q4 of FY23 and will be partially operational by 2023,” Sorubh Kumar Bharti, ED, told reporters.

According to him, the facility will have an initial production capacity of 25,000 units and it will be scaled up to 1,00,000 EVs over the year. Initially, it will provide employment to 1,000 people. It will be ramped up to 3,000 people including direct and indirect workforce, once the facility becomes fully operational.

“Along with the vehicle assembly, our new factory will be making all the critical components, including batteries and motors,” he said.

To a question on exports, he said that to begin with BAF would focus on the domestic market and later it plans to export EVs to other global markets such as ASEAN and African countries.

The targeted markets in India in first stage will be Maharashtra, Tamil Nadu, Karnataka, Telangana, Goa & Andhra Pradesh. The company is expected to open its first retail outlet in Chennai and Bengaluru by early 2024.

BAF is a start-up recognised by the Department for Promotion of Industry. The upcoming will be fully owned by BAF and it will be funded internally.