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India: Polaris may sell electric vehicles in India

Polaris, the all-terrain vehicle maker that acquired neighborhood electric vehicle maker Global Electric Motorcars (GEM) from Chrysler last year, may start selling electric vehicles in India as a way to benefit from the growing vehicle market in that country, automotive news website CarTradeIndia reported.

Polaris hasn’t decided whether the EVs earmarked for India will be on-road or off-road vehicles, the website said, citing Polaris India Managing Director Pankaj Dubey. The company is looking to boost revenue from India to about 5 billion rupees (about $94 million U.S. at current exchange rates) by 2016.

By selling EVs in India, Polaris would be looking to benefit from demand in an Asia-Pacific region that’s most likely to be the fastest growing when it comes to plug-in vehicle sales over the next few years. Globally, cumulative plug-in vehicle sales, including battery-electric and plug-in hybrid-electric vehicles, will surge to 5.2 million in 2017 from 114,000 in 2011, according to green-technology research firm Pike Research. The Asia-Pacific region will account for about 617,000 electric-drive vehicles sold in 2017, almost double North America’s total, Pike Research Senior Analyst Dave Hurst told AutoblogGreen.



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