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Taiwanese electric scooter manufacturer Kymco on Monday announced a foray into the Indian market in partnership with local e-scooter start-up 22 Motors.
Kymco said it would invest $65 million in the Indian market over the next three years in introducing new products and localising batteries.
Kymco, which has an annual revenue of $1.36 billion, sells 700,000 vehicles, mostly scooters, in markets like Taiwan and Europe.
It launched electric scooters early this year in Taiwan.
“People do not want to buy electric scooters because they worry about range anxiety, the wait time for charging and the price difference compared to petrol scooters. We have a
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