A Hyderabad-based startup has raised funds to launch its electric tractors
- Cellestial E-Mobility has raised a funding of $200,000 to launch electric tractors.
- The first prototype will be launched in one month by the startup.
- Market leader in the segment –
Escorts– has already introduced its electric tractors in the market.
The startup has raised the funding for the first time from Meka Sudhakar Reddy, a Singapore based NRI with over 18 years of expertise in logistics spacing.
“We are getting ready to roll out the first prototype in the next one month,” Siddhartha Durairajan, Founder Promoter of Cellestial E-Mobility said.
The company promises that its tractors will have the longest battery life in the market. The zero-emission ecological tractor can be used for horticultural or greenhouse work or even in logistical operations to move goods in factories.
Cellestial also claims that it has the capacity to build 100 e-mobility heavy vehicles.
The leader of the tractor manufacturing segment Escorts had already announced its foray into the EV market with electric tractors. Escorts had also launched tractors with self-driving technology.
The Electric Vehicles market in India has been heating up with large auto manufacturers announcing their decisions to introduce their EVs in India. Startups in the EV segment too have been raising funds, with the likes of SmartE raising investment from Japan-based Mitsui and Bengaluru-based startup Ather Energy raised funds from Flipkart founder Sachin Bansal.
The Indian government has been pushing forward the growth of EVs in India. In the Union Budget 2019, Finance Minister Nirmala Sitharaman announced tax subsidy for people who buy EVs. The government had also reduced the goods and services tax (GST) on EVs to 5% from the previous 12%.
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