The memorandum deals with the establishment of a JV joint company, which will manufacture, market, sell and technologically support, in the Indian market, Radler products, smart drive controllers and other electronic systems for the field of tiny electric vehicles, motorcycles and electric rickshaws. The tiny automobile market in India produces about 20 million new motorcycles and rickshaws per year, this market is rapidly moving to electric drive, at a growth rate of about 16% (CAGR) per year, with the massive support of the Indian government, which encourages the development and production in India of products based on smart technologies for this transportation such as Those of Radler Technologies, which combine innovative technologies and patents.
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This expectation is based, among other things, on a national plan announced by the Government of India and Minister of Transportation Gadkari with the aim of making the two- and three-wheeled eV sector about 80 percent by the year 2030. This market constitutes a large part of all the electric vehicles that hit the road every year, and is estimated at billions of dollars Sales per year. The tender was signed between the CEO of Radler Technologies, Guy Nathanson and the CEO, Mr. Dhiraj Garj on behalf of the SSWL company and with the support of the SHEPHA, SOLOMON & CO ADVOCATES company, the Eliani-Eshkol attorney’s office and the Israeli Embassy in Delhi.