India, one of the fastest-growing EV startups in the country is going to invest
Rs. 50 crore for setting up one of the largest manufacturing plants for EV
motors and controllers in Karnataka.
The manufacturing facility, the country’s
first-of-its-kind for indigenous EV motors and controllers, will come up at
Bengaluru and will become operational by the end of this year. Armed with
futuristic technologies, the facility will have an initial manufacturing
capacity of 2,000 units per day and will cater to the high demand for
indigenous mid drive and hub motors from key EV Original Equipment
Manufacturers (OEMs) in the country.
From $1.4 billion in 2021, the Indian electric
vehicle market is expected to exceed $15 billion by 2027, projecting annual
growth of 47%. With the promising future for EVs in India, one of the immediate
challenges is to reduce imports of EV components and promote indigenous
manufacturing of core components such as motors, controller, battery management
system (BMS), batteries and required electronics.
are thrilled to setup our world-class EV motors and controllers plant in
Bengaluru and support the Karnataka government’s vision of making the state a
global hub for EV manufacturing. The plant is also a big step towards realising
our aim of building and supporting an indigenous EV component manufacturing
ecosystem and empowering EV OEMs,” said Dr. Shiva Kumar HM, Co-founder and
Director, Mecwin India.
demand for electric vehicles takes off in India, the time is right for
enhancing our manufacturing capacity and contributing to the growth of the EV
segment. We will work closely with leading OEMs to ensure the supply of
high-quality EV motors and controllers. We also plan to gradually scale up
capacity as demand rises,” he said further.
announcement about the Bengaluru plant comes just months after Mecwin India
announced its foray into the little-explored EV retrofitting segment with a Rs.
1,500-crore deal with Raipur-based Tatva Group, among the first and largest
deals of its kind. As a part of the deal, Mecwin India will manufacture and
supply 5 lakh retrofitting kits, which include motor, controller, lithium-ion
battery, and charger, for different kinds of vehicles over the next three years
to Tatva Group.
company’s EV motors are specially designed, developed, and made in India for 2,
3 & 4-wheelers. The motors are optimised for high performance even under
the most challenging Indian road conditions. The company aims at empowering the
growing EV OEM base in India and other developing nations with its world-class
motors and other components manufactured indigenously in India for the world.
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