In a big boost to the Electric Vehicle (EV) manufacturing ecosystem, Mecwin India, one of the fastest-growing EV startups in the country is going to invest Rs. 50 crores in for setting up one of the largest manufacturing plants for EV motors and controllers in Karnataka.
The Indian market for electric vehicles is projected to grow 47% annually, with a value of $1.4 billion by 2021. Given the bright future of EVs in India, it is important to reduce imports of EV parts and encourage local manufacturing of core components like Motors, Controller, BMS, Batteries, and Electronics said the company in its press release.
The manufacturing facility, the country’s first-of-its-kind for indigenous EV motors and controllers, will come up at Bengaluru and will become operational by the end of this year. Armed with futuristic technologies, the facility will have an initial manufacturing capacity of 2,000 units per day and will cater to the high demand for indigenous mid drive and hub motors from key EV Original Equipment Manufacturers (OEMs) in the country.
“We are thrilled to setup our world-class EV motors and controllers plant in Bengaluru and support the Karnataka government’s vision of making the state a global hub for EV manufacturing. The plant is also a big step towards realising our aim of building and supporting an indigenous EV component manufacturing ecosystem and empowering EV OEMs,” said Dr. Shiva Kumar HM, Co-founder and Director, Mecwin India.
“As demand for electric vehicles takes off in India, the time is right for enhancing our manufacturing capacity and contributing to the growth of the EV segment. We will work closely with leading OEMs to ensure the supply of high-quality EV motors and controllers. We also plan to gradually scale up capacity as demand rises,” he said further.
Just months after Mecwin India’s announcement of its entry into the unexplored segment of EV retrofitting, the Bengaluru plant was announced. The deal, worth 1,500 crores, was made with Raipur’s Tatva Group. It is one of the largest and most important deals of its type. Mecwin India, which manufactures and supplies 5 lakh retrofitting kit, including motor, controller, battery and charger for various vehicle types, has signed the deal with Tatva Group. The EV motors of the company are made in India and specially designed for use on 2-, 3-, and 4-wheelers. These motors can deliver high performance under even the most difficult Indian roads. With its high-quality motors and other components made in India, the company aims to empower India’s growing EV OEM community.