Ruchira Green Earth which is a lithium-ion batteries and allied products maker has announced that it will invest Rs 200 crore over the next three or four years to set up a new manufacturing unit in Haryana to double its production capacity. The funding will be done through an internal accrual of Rs 50 cr and bank loan. The company has a current capacity of manufacturing up to 5,000 batteries per month. The new plant will be set up at YamunaNagar in Haryana to fulfil the rising demand for its products.
Mr. Deepan Garg, Director, Ruchira Green Earth said that they are delighted to have been awarded contracts from many OEM’S for the supply of lithium-ion batteries. Moving ahead with a ceaseless commitment towards accelerating the transition to electric vehicles, they look forward to winning many more such contracts with major OEMs in the EV segment. The company sells the batteries under the brand AKIRA and received orders from OEMs such as Gemopai, Tunwal, Myntra, Benling, Komaki for the supply of lithium-ion batteries for electric scooters.
Currently, the company produces lithium-ion batteries for electric two, three and four-wheelers for commercial vehicles, loaders, forklift trucks, golf carts, among others. It is now targeting energy storage systems, home storage and energy storage solutions from banks, hospitals, industries, and government contracts for villages, defence, railways and telecom sectors, among others.