The Kanpur-based firm noted that it is laying the groundwork to re-enter the market with a different set of opportunities to leverage.
Although the demand for electric vehicles, especially two-wheelers is expected to rise in the coming years, concerns over charging infrastructure continue to remain.
Having lost his job to the lockdown, Saravanan has been supporting his family of seven by farming. This left him with some spare time to experiment with machines -- a passion since his childhood.
The scheme will come into force on the date of its publication in the Official Gazette and shall apply only for the battery-operated electric motorcycles or electric bikes.
The e-bike has futuristic features, including cell balancing and wireless charging, which are only available in a few places around the world.
Known for bringing innovation to bikes, Santhosh's bike is just 145 mm (lesser than that of a pencil), a wheelbase of 130 mm weighing 2.5 kg which can withstand over 65 kg load.