Electric vehicle startup Mecwin India on Friday said it is going to invest Rs 50 crore for setting up a manufacturing plant here for EV motors and controllers.
The facility will cater to the demand for indigenous mid drive and hub motors along with controllers from EV Original Equipment Manufacturers in India, it said in a statement.
The plant, which will become operational by this year-end, will have an initial manufacturing capacity of 2,000 units per day, it was stated.
"As 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 also plan to gradually scale up capacity as demand rises," Mecwin India's Co-founder and Director Shiva Kumar H M said.
The announcement comes just months after Mecwin India announced its foray into the EV retrofitting segment with a Rs 1,500-crore deal with Raipur-based Tatva Group.
As a part of the deal, Mecwin India will manufacture and supply five 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, the statement added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app