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The electric two-wheeler manufacturer is gearing to launch its first model, the LML Star, in India later this year.

The new model codenamed Project T3 will be built at Ford’s upcoming manufacturing plant in West Tennessee.

The hike in prices will come into effect from April though the carmaker has not revealed the quantum of hike or the models affected.

Brent crude futures fell by 78 cents to settle at $75.91 a barrel. U.S. West Texas Intermediate crude futures slid by 94 cents, to end the session at $69.96 a barrel.

CATL disclosed in August last year that it was working on M3P technology, which can enable an electric vehicle to run 700 km (430 miles) per charge when combined with CATL's next generation of battery-pack technology.

The reorganization, expected to be announced soon, would mean those working on manufacturing engineering would be asked to relocate to central Illinois or its headquarters in Irvine, California

The deal hinges on a final agreement with Ford Motor Co, which still owns the plant in Bahia state despite halting production in Brazil in 2021

As per documents, the two electric scooters will be CBU imports and can be registered at RTOs.