Electric Mobility Startup DAO EvTech Invests in Tamil Nadu

The electric mobility startup DAO EvTech announced on Sunday that it has plans to invest Rs 100 crore in Tamil Nadu and hire roughly 2,000 employees by 2025.

The US-based DAO Evtech LLC and its promoter Michael Liu were able to invest in and manufacture two-wheeler electric vehicles thanks to DAO, which started production at its factory in Chakan, Pune.
DAO EvTech is to invest $100 million in India in addition to the Rs 100 crore it will give Tamil Nadu. A new line of electric vehicles from the corporation was just presented in the city.

“Any manufacturer of EV two wheels must focus on the Tamil Nadu market. With a two-wheeler penetration rate of 73 percent, Chennai has the highest rate compared to other large cities like Mumbai and Bengaluru” said Liu.

“EV is a developing industry that focuses primarily on young people who adopt technology quickly. Tamil Nadu is an EV-friendly state due to the size of its people. In India we will continue to invest $100 million and in 2023, we’ll put aside $20 million for the creation of brand-new goods” Liu threw in.
“During the next two years, we anticipate creating 2,000 new employment through our expansion strategy,” he said.

Thanjavur, Madurai, Pollachi, and Coimbatore are the current locations of the company’s dealership network. He mentioned that the goal is to have 20 dealerships in Chennai.
DAO EvTech stated that in order to expand its presence, the firm would concentrate on Tier II and III markets with a variety of products.

The business stated, “We will provide the ZOR 405, in addition to our flagship DAO 703 model. ZOR 405 has a low centre of gravity, a strong foot stand and dual suspension with a 220 kg load capacity”.