Starlit Power Systems Ltd has
signed a Joint Venture with China's second largest motorcycle and UPS battery
manufacturing company Guangdong Dynavolt Technologies wherein, Guangdong
Dynavolt will acquire 24pc of equity in Starlit Power Systems Ltd by an infusion
of RMB 5 million (Rs 5.17 crore approx.). Guangdong Dynavolt Ltd, a technology
giant with over dozen subsidiaries in China has a market capitalisation of $ 1470 million (Rs
8800 crore) and is listed in the Shenzhen Stock Exchange.
Post the Prime Minister
Narendra Modi's visit to China and the emphasis on 'Make in India', the Joint
Venture marks the first Chinese investment in the secondary power sector in an
Indian manufacturing company.
The Joint Venture and the technology transfer
will allow the next- Gen batteries for motorcycles, e-bikes, Telecoms and UPS
applications to be manufactured in India. It also opens doors for brining in
packaged off-grid solar solutions to the Indian market.
Starlit Power Systems Ltd, a
part of Starlit Group, has a state-of-the-art battery manufacturing plant at
Sohna, near Delhi. The company is the producer of the iconic 'Konstant' brand
of batteries for automobiles, inverter, solar and E-Rickshaw applications. It
also does third Party labelling for many known brands in the country. Unlike
most battery manufacturers that rely on outsourcing most raw materials, Starlit
has its own in-house capability for refining and customising alloys and oxides.
This makes the company operation an integrated one and gives it a control over
raw material and its quality parameters which are vital in this
Technologies Ltd is the second largest motorcycle battery manufacturer in China
and has significant presence in the VRLA batteries for UPS, Telcom and E-Bike
applications. It has in its client list iconic brands like Harley Davidson and
BMW bikes. In fact, as a tribute to its
quality, over 75pc of Dynavolt's turnover comes from the USA, Europe, Australia
and Japan where leading brands use the batteries made by Dynavolt. Besides
manufacturing batteries, Dynavolt also has interests in solar panel
manufacturing, solar based power packs and inverters, e-bikes and cars. From its dominant position in the motor cycle
battery industry, the Company is also the sponsor of the German Racing Team,
Dynavolt Intact GP in the World Grand Prix MOTO GP. The present Investment is
only the phase-I and together with Dynavolt is keen to explore not only the
growing battery market but also offer packaged battery and solar paneled
solutions customised to meet the growing demand for Energy in a clean and green
manner in a growing economy like India.
"This JV is a pioneering
initiative as it is the first time that in secondary power industry and
typically in battery industry two companies pooling in their technical know-how
to bring out the best expertise from both the countries. We expect that such
liaison in future will create more opportunities both for India and for other
countries.Going forward, it opens doors for bigger projects and greater
co-operation,” stated Sachin Shridhar, Founder & Chairman, Starlit Group.
Adding further he said “On
knowledge sharing front, it will allow both country’s engineers to get training
and exchange expertise with each other. Chinese engineers will also be working
with Indian operators on the processes adopted by large scale Chinese conglomerates"
“With good manufacturing
facility at Starlit and access to technologies and markets with Dynavolt, we
can produce the VRLA batteries which are in huge demand both in India and
overseas", said Chen Le Wu, the
Chairman of the Company Dynavolt.
Shey Hong Ping, GM operations,
Dynavolt India “We have been working with Starlit for some time now and have a
good relation with the team at Starlit. At production level, it allows us to
introduce product ranges in VRLA, gel and nano-gel batteries which are the
products of the future and are widely used in the overseas markets."
The Indian e-vehicle market -
e-cycles, rickshaws, carts etc – is poised for a big leap and in the growing
cities, substitution of diesel by cleaner technologies makes both economic and
environmental sense. In effect, in these applications the batteries will
replace diesel and thus, the technologies need to be both robust and lasting.
With China having over 25 crore electric vehicles, India too is now set for
this major shift and leap.
Starlit Power Systems Ltd