Force Motors plans to invest Rs 2,000 Crore for EV Development

The company aims to bring electric versions of its vans' ranges step by step going forward, with the first electric offering being the Traveller Electric. Force Motors also plans to install a second large paint shop and increase its use of green energy.

Automaker Force Motors intends to invest approximately Rs 2,000 crore in the next three to four years, covering sustainability initiatives and the development of electric vehicles (EVs), according to the Managing Director, Prasan Firodia.

The company aims to gradually introduce electric versions of its van ranges while continuing to produce conventional-engine vehicles. The investment will span conventional engines, EVs, facility upgrades, and creating a more sustainable environment.

The company, which showcased its Traveller Electric, Urbania Diesel, and Traveller CNG at the Bharat Mobility Global Expo, has embarked on an electrification drive, although it will continue with its conventional engine vehicles.

The electrification drive will see an investment of around Rs 200 to Rs 300 crore, focusing initially on the Traveller Electric model, with subsequent electrification of various variants every six months. The company is also working on electric versions of non-passenger transport vehicles and personal vehicles like the Gurkha.

Force Motors plans to install a second large paint shop to address additional capacity needs. Firodia anticipates continued growth of 25-35% or more over the next few years, supported by strong market sentiment and the government’s infrastructure focus.