'Electric scooters made by Hindustan Motors to hit roads this financial yr'

kolkata: Electric two wheelers manufactured by the Hindusthan Motors are likely to hit the road in this financial year.

The company has signed a MoU with an automobile manufacturing company in Europe.

HM has proposed to hit the market with electric scooters. The company will invest anything between Rs 300 crore to Rs 400 crore in the green field industry. The state government has given several incentives to the users of electric vehicles. There has been an exemption of road tax for two years. The state Transport department has proposed to introduce 1000 electric buses by 2023.

Senior HM officials felt that 286 acres in Uttarpara has sheds and other infrastructure on it. So there may not be delay in resuming production. Chief Minister Mamata Banerjee has laid special emphasis on industry. She had recently hinted that a car industry would come up in Bengal.

CK Birla Group will hold 51 per cent shares of the company while the European partner will have 49 per cent share. Talks are on to address several issues. However, the HM officials did not disclose the name of the company with whom MoU has been signed. Hindusthan Motors had started manufacturing Landmaster cars in 1948 in its Uttarpara plant. The production continued for 66 years and the factory was closed in 2014.