To be built at an investment of Rs. 50 crore, the state-of-the-art plant will cater to the growing demand for indigenous mid drive and hub motors along with controllers from the fast-growing EV OEMs in India.
From $1.4 billion in 2021, the Indian electric vehicle market is expected to exceed $15 billion by 2027, projecting annual growth of 47%. With the promising future for EVs in India, one of the immediate challenges is to reduce imports of EV components and promote indigenous manufacturing of core components such as Motors, Controller, Battery Management System (BMS), Batteries and required Electronics. 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 for setting up one of the largest manufacturing plants for EV motors and controllers in Karnataka.
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 set up 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.
The announcement about the Bengaluru plant comes just months after Mecwin India announced its foray into the little-explored EV retrofitting segment with a Rs. 1,500-crore deal with Raipur-based Tatva Group, among the first and largest deals of its kind. As a part of the deal, Mecwin India will manufacture and supply 5 lakh retrofitting kits, which include motor, controller, lithium-ion battery, and charger, for different kinds of vehicles over the next three years to Tatva Group.
Company’s EV motors are specially designed, developed, and made in India for 2, 3 & 4-wheelers. The motors are optimised for high performance even under the most challenging Indian road conditions. The company aims at empowering the growing EV OEM base in India and other developing nations with its world-class motors and other components manufactured indigenously in India for the world.
