Popular Vehicles and Services (NSE:PVSL, BOM:544144) subsidiary Kuttukaran Cars has received four letters of intent for setting up 3S (sales, service, and spare parts) facilities for electric vehicle manufacturer Ather in Maharashtra, India.
Two of the four planned facilities will be located in Nagpur, while the other two will be set up in the cities of Chandrapur and Chhatrapati Sambhaji Nagar, according to a Wednesday filing to the Indian stock exchanges.
Each 3S Ather facility will include an experience center, a service center, and a warehouse. The operations are expected to start in the second quarter.
The company's shares were down nearly 2% in recent trade.
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