The company said that it will be manufacturing motors, chargers, controllers and drives for electric vehicles
Marking a new player into the growing Indian EV ecosystem, Shakti Pumps India has made an announcement that it is making a foray into the manufacturing of motors, chargers, controllers and drives for electric vehicles. The entry would be done through a wholly-owned subsidiary.
This announcement follows the company’s board approval for the incorporation of a wholly-owned subsidiary to make a foray into the EV segment.
Shakti Pumps India Chairman and Managing Director Dinesh Patidar said, “We have over 30 years of experience in manufacturing electric motors and five years of manufacturing power electronics equipment.”
He added that with this experience and confidence of expertise, the company will now, through a wholly-owned subsidiary, manufacture and supply the battery chargers, controllers and motors that the electric vehicles market requires.
Shakti Pumps India manufactures and supplies solar pumps and motorised pumps. It recently launched a new range of advanced solar energy-operated pumps and has been able to carve out a niche space for its brand across domestic and international markets.
The company has two factories at Pithampur in Madhya Pradesh and has sold a total of 35,000 solar pumps in 2020-21, including 25,000 solar pumps sold under the KUSUM scheme.