The two JVs are Salzer EV Infra and Salzer Kostad EV Chargers
Electric components maker Salzer Electronics announced that it is forming a joint venture with power electronics firm E-March LLP to manufacture electric conversion kits for vehicles.
Salzer would form a wholly-owned subsidiary, Salzer EV Infra, which in turn would form a JV named Salzer EMarch E Mobility, in association with EMarch LLP.
This JV would be engaged in manufacturing electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles.
The Coimbatore-based company had announced last week its fray into the EV space, adding that it would manufacture DC Fast charging stations for electric vehicles (EV) and would form a joint venture with Austria-based company Kostad Steuerungsbau GmbH, which would be named Salzer Kostad EV Chargers Pvt Ltd.
Salzer would bear 26 per cent of the total investment of Rs 18 crore in the venture, over a period of 12 months.
The JV will engage in the manufacturing of DC Fast charging stations for electrical cars, trucks and buses, and components and systems in India.
Through this technical alliance, Kostad would provide technical know-how and requisite technology support to Salzer for the production of EV charging stations and related components, it said.
Salzer and Kostad would hold 26 per cent and 16 per cent equity in this JV respectively, E-March LLP will hold 6 per cent, while the rest would be held by private investors.
The JV will be supplying to the southeast Asian markets and the Middle East apart from India. However, India will be its key and most important target, to begin with.
R. Doraiswamy, Managing Director, Salzer Electronics Ltd said, “This is a huge opportunity for us, and the partnership comes at an opportune time, such that we can prepare and be ready for the anticipated demand in the coming years and capitalize on it.”
