Plastic Solutions MSME Forays Into EV Charging Market

- Advertisement -

The company plans to offer AC and DC charging devices to diverse verticals like real estate, malls, highway food courts, and government projects

Galaxy Industries has announced its foray into the electric vehicle (EV) charging market in India. The company has formed a new entity named Galaxy Energy to start operations in the field of EV charging. This entity plans to offer AC and DC charging devices to diverse verticals like real estate, malls, highway food courts, and government projects.

“While we have petrol, diesel, and CNG pumps in most parts of the country, there aren’t enough charging stations for electric vehicles. That’s where Galaxy Energy is aspiring to make a difference. By supplying their charging devices to real estate, malls, highway food courts and government projects, Galaxy Energy aims to ensure that people aren’t left helpless when their electric vehicles run out of power. We’re committed to a cleaner and greener India and are leaving no stones unturned in our contribution to boost manufacture and usage of electric vehicles and minimize toxic emissions from conventionally-fuelled vehicles,” noted Ishwar Panchal, founder, Galaxy Industries.

- Advertisement -

Galaxy Industries also manufactures and provide plastic solutions to the medical devices, plastic pasteur titettes dropers, automobile parts, sanitary parts, silicon tile molds, electric and surgical parts. Starting with a team of about 15, Galaxy Energy is looking to expand with at least 50 people to gear up this new division. While these members will support the sales and marketing initiatives of the company, talks are also underway with some Mumbai-based shopping malls and a couple of renowned real estate companies for the purpose.

The global electric vehicle charging station market size is projected to reach 30,758 thousand units by 2027, from an estimated 2,115 thousand units in 2020, at a CAGR of 46.6 per cent. Increased demand for efficient and eco-friendly vehicles, as per a report by Research and Markets, along with government support will boost the electric vehicle charging station market.

The market in the Asia Pacific is projected to be the largest in terms of charging stations. The region comprises some of the fastest-developing economies of the world such as China and India. Government policies in these countries are supportive of higher EV sales and related services such as EV charging.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Breathing Through “First-Time Silicon Success”

0
No one is born a leader, but the choices we make in life propel us to become a leader. For Chitra Hariharan, an innocent...

Worldwide Chip Sales Increased By 1.1% In April, Marking First 2024 Growth

0
A new forecast predicts robust annual growth, and the semiconductor market shows strong momentum, especially in the Americas and China. The Semiconductor Industry Association (SIA)...

Buzz

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

MAHLE Launches X30 Drive System For Electric Bikes

0
The system maintains compatibility with all components, accessories, and the digital ecosystem of the existing X20 system. MAHLE SmartBike Systems has unveiled its X30 drive...

MeitY Plans Billion-Dollar Subsidy Scheme For Component Manufacturing

0
Reports indicate that the Government will offer subsidies for lands obtained to manufacture electronics components in categories where the investment-to-output ratio is not high. The...

Important Sectors

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

MAHLE Launches X30 Drive System For Electric Bikes

0
The system maintains compatibility with all components, accessories, and the digital ecosystem of the existing X20 system. MAHLE SmartBike Systems has unveiled its X30 drive...

MeitY Plans Billion-Dollar Subsidy Scheme For Component Manufacturing

0
Reports indicate that the Government will offer subsidies for lands obtained to manufacture electronics components in categories where the investment-to-output ratio is not high. The...

Government Revamps PLI Scheme To Boost Telecom Manufacturing

0
The government revamps the PLI scheme for the telecom sector, boosting exports and incorporating more MSMEs, with increased allocation from Rs 1,000 crore to...

Honeywell, PwC India Empowers Businesses With Honeywell Forge

0
Honeywell and PwC India collaborate to enable companies with Honeywell Forge IoT software, leveraging analytics, machine learning, and AI to tackle industrial challenges and...

Manufacturing

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...