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Victory EV, AITMC, and Startup Stairs sign MoU to explore India EV opportunities, including manufacturing and charging, with no investment commitments.
Victory Electric Vehicles International, along with AITMC Ventures and Startup Stairs, has signed a non-binding MoU to explore opportunities in India’s EV ecosystem, including manufacturing, charging infrastructure, training, and pilot programs.
The collaboration is exploratory, with no commitments to investment or joint ventures, and each party covering its own costs.
The agreement includes binding terms on confidentiality and data protection.
Victory, which makes electric rickshaws and cargo vehicles, says the move supports its strategy to expand in India and explore exports, though future projects require separate agreements.
Risks include policy changes, economic conditions, and technology shifts.
Victory EV, AITMC y Startup Stairs firman un MoU para explorar las oportunidades de EV en la India, incluida la fabricación y la carga, sin compromisos de inversión.