Begin typing your search...
Gozero Mobility to invest 17 mn pounds in India, UK
British performance electric bicycle and activewear maker, Gozero Mobility on Wednesday said it will invest 17 million pounds (around Rs 175 crore) in India and Britain for expanding manufacturing operations and retail presence besides enhancing research and development.
By
migrator
migrator
London
The Birmingham-headquartered firm is targeting to sell around 2.3 lakh units of its electric bicycles in the next five years in the two countries.
Company CEO Ankit Kumar said, “Gozero Mobility plans to invest GBP 7 million in the UK market to expand research and development activities, increase the retail footprint and set up local assembly units.” Through this, the company aims to create 100 unique jobs in the next five years in the UK market mainly in the new product development segment, he added.
In terms of sales, Kumar said GoZero is targeting to sell over 80,000 units in the same time frame in the UK market. For the Indian market, GoZero Mobility said it “plans to invest GBP 10 Million” to expand manufacturing and retail presence. It will also boost exports to markets such as Bangladesh, Dubai, Sri Lanka, and Nepal.
In India, it aims to create 250 jobs in the next five years.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android
Next Story
