EV startup Mecwin India puts Rs 50 crore for setting up the manufacturing plants
- ByStartupStory | June 25, 2022
Mecwin India, a startup in the electric vehicle industry, announced that it will invest Rs 50 crore to establish a manufacturing facility in Bengaluru for EV motors and controllers. According to a release, the facility will meet the demand for domestic mid-drive and hub motors as well as controllers from EV OEMs (Original Equipment Manufacturers) in India.
Mecwin is in the centre of the clean energy revolution, creating incredibly cutting-edge solar pumps and motors and making them accessible to the general public. Our commitment to efficiency and innovation is shown in the high calibre, robust, and dependable variety of Motors we provide.
Shiva Kumar H M, co-founder and director of Mecwin India stated, “The moment is ideal to expand our production capabilities and aid in the expansion of the EV market as India’s demand for electric vehicles soars. As demand increases, we also want to progressively build up capacity.”
Soon after Mecwin India announced its entry into the EV retrofitting market with a Rs 1,500 crore agreement with Raipur-based Tatva Group, the announcement was made. The facility, which is expected to start up before the end of the year, will initially be able to produce 2,000 units each day.
According to the announcement, Mecwin India would produce and provide Tatva Group with five lakh retrofitting kits—which comprise a motor, controller, lithium-ion battery, and charger—for various types of cars over the course of the next three years.
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