In a joint venture with 22Motors, KYMCO continues to spread globally with deepened investments in India market
GURGAON, India, June 26, 2019 /PRNewswire/ -- KYMCO, a leading professional powersports brand, recently announced the official launch of the new brand 22KYMCO through a deepened partnership with Indian smart electric vehicle (EV) manufacturer 22Motors, building on a strategic cooperation established last year. The new brand launch from the two partners provides Indian consumers with reliable EVs, and represents a milestone for KYMCO as it accelerates its globalization process and promotes its industrial layout in India.
Equipped with an annual production capacity of 200,000 units, 22KYMCO will prioritize manufacturing of iFlow series models the Like 200 and the X-Town 300i ABS. As India represents one of KYMCO's most significant markets globally, 22KYMCO will aggressively expand across the country with a phased expansion plan. In phase one, expansion will start in New Delhi, Bangalore, Pune, Hyderabad, Kolkata and Ahmedabad. Over the next three years, 22KYMCO aims to build a strong dealership network that will consist of more than 300 stores in India.
India has now become the world's largest vehicle market but is still dominated by traditional gas-powered vehicles. To reduce the intensifying urban air pollution, the Indian government is actively promoting EV development and making appeals for green commuting. This has resulted in the formulation of "FAME II", a policy focused on the rapid adoption and manufacturing of electric and hybrid vehicles to promote a green revolution in Indian transportation.
In addition to manufacturing and selling traditional fuel vehicles, 22KYMCO will focus on the emerging EV industry to meet the specific needs of the Indian market. For instance, the upcoming iFlow series two-wheeled EV with KYMCO's innovative Ionex Platform could provide more advanced power and longer-lasting battery life. The varied applications of Ionex will provide consumers with more electric choices and convert this technological breakthrough into tangible benefits to serve Indian consumers.
When talking about the company's future development in India, Allen Ko, Chairman of KYMCO, said, "For us, India and China are two of our most important markets, and we are very excited about entering India's thriving two-wheeler market to explore its promising market potential. With the country's strong policy framework that encourages e-mobility in a big way, electric awareness and consumer purchase intent towards e-vehicles in India is witnessing a paradigm shift. Given the encouraging e-mobility environment here, we are certain that our unified mobility solution is sure to 'make it big in India'. Combining KYMCO's 55-year-old legacy in the automotive world with 22Motors' expertise in the Indian market, 22KYMCO makes for a stronger team together. We look forward to an exciting journey that will shape India's e-mobility revolution."
Founded in 1964, Kwang Yang Motor Company is headquartered in Kaohsiung City in southern Taiwan. In 1992, the company created its own KYMCO brand and independently develops and sells worldwide. The Hao Mai 125, manufactured from 1990 to 2008, was the first model to sell over 1 million units. Since 2003, KYMCO has become a 100% independent global brand enterprise. The core of KYMCO technology lies in the frame structure, fuel engine, motor electronic control and transmission system. It is committed to continuous advancement and transcendence, bringing to customers the most thoughtful riding experience for everyday life. KYMCO's current product line includes scooters, street sports cars, motorcycles, mobility scooters, ATVs and utility vehicles.
For more information, please link to website: https://www.kymco.com/
Established in 2018, 22KYMCO is a joint venture created by Kwang Yang Motor Company (KYMCO) and 22Motors. It's a multinational start-up that develops innovative mobility solutions for India. The firm aims to revolutionize the Indian two-wheeler industry with its leading technology and innovative products.
For more information, please link to website: http://www.22motors.in/
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