IFC HELPS PROMOTE INDIA ELECTRONIC MOTORCYCLE INDUSTRY
August 1st, 2007
BY KEITH NUTHALL
CHINA may be rightly attacked for poor environmental standards, but it is doing well regarding electric motorcycles, with 10 million being sold every year. This compares with just 50,000 in India, where petrol is king - a problem that is the focus of a new International Finance Corporation (IFC) of the World Bank loan. It is pumping US$25 million into Electrotherm India Ltd, an electric motorbike manufacturer with a plant in Ahmedabad, within the poverty-stricken Kutch region of Gujurat, western India. The company will use the funds to expand ...
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