Dao currently sells three products in India – Model 703, Zor 405 and Vidyut 108.
Dao EVTech, an EV scooter manufacturing startup headquartered in Chakan, has plans to invest Rs 100 crore in Tamil Nadu. The company currently has 22 showrooms operational across the country and with this investment, it has plans to grow that number.
Dao to expand dealer network in Tamil Nadu: details
DAO EVTech already has active dealerships in Madurai, Polachi, Coimbatore, and Thanjavur in the state of Tamil Nadu. In particular, the 20 dealerships that DAO had planned to open in Chennai will all be operational within the next few months. DAO is now focusing on building and developing the dealership’s connecting power; it will soon grow significant cities like Chennai as its centre for regular demand fulfilment in nearby Tier 2 and Tier 3 cities.
Dr. Michael Liu, Chairman and CEO of DAO EVTech, stated that the “Tamil Nadu market is crucial to any EV two-wheeler manufacturer. There are three basic reasons for this. The first is, Tamil Nadu’s capital Chennai has the highest two-wheeler penetration rate of 73%, which is nearly double that of other major cities such as Mumbai and Bangalore. The EV segment is a growing business that is more focused on young individuals who embrace technology quickly, and the state has a large population, making Tamil Nadu an EV-friendly state. Any quality product supplier, like DAO, is encouraged to enter this market by the state’s welcoming culture and its citizens’ attention to detail, commitment to excellence, and logical analysis. We will continue investing $100 million in India, and in 2023, we’ll set aside $20 million for the development of novel products. With this $100 million investment, we have specifically set aside Rs. 100 crores for Tamil Nadu. With our expansion strategy, we expect to generate 2000 new positions over the next two years.”
Also See:
Dao Model 703 review, road test
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