Manufacturing company Zetwerk is expanding its horizons with a bold foray into the IT hardware sector, beginning with laptop production. The company is also stepping into the electric vehicle (EV) industry, focusing on component manufacturing.
Having attained unicorn status in 2021, Zetwerk has outlined an aggressive investment plan of over INR 1,000 crore for its consumer electronics division over the next three years. This expansion includes establishing three new facilities in southern India, breaking free from its previous northern concentration.
Collaborations with existing Production Linked Incentive (PLI) holders might be the company’s entry into the IT and hardware sector. This tactic is set to position Zetwerk competitively against the market’s major players.
Building on its existing manufacturing portfolio of wearables and hearables, Zetwerk continues to diversify, having recently added televisions to its production line. The firm predominantly acts as a contract manufacturer for other brands, with no plans to sell products under its brand name.
Zetwerk is also ready to mark its presence in the electric vehicle segment, focusing on creating essential components such as battery management systems and motor controllers. Currently, negotiations are underway with potential clients for component manufacturing and the development of a new plant in western India.
The company anticipates substantial growth in the consumer electronics segment, forecasting a seven-fold revenue increase this year compared to the last. Zetwerk envisions becoming one of India’s top electronics manufacturing services (EMS) entities, with plans to boost its revenue in the coming fiscal year. These developments are part of Zetwerk’s ambitious plans to significantly scale up its production capabilities across various sectors, promising a bright future in the ever-evolving technological landscape.