Chennai: Grinntech, an investor-backed start-up specialising in lithium-ion batteries for EVs
and energy storage systems has signed a MoU with the Tamil Nadu government for setting up a battery and battery management system manufacturing facility to cater to the anticipated growth of Electric Vehicles (EVs) in India.
A company release here today said Grinntech already operates its R and D and pilot manufacturing facility in Chennai.
In addition, it has outlined plans for outlay of almost Rs 100 crores for R and D, product development, and production facilities which will lead to the employment of 250 staff over the next five years.
The company showcased a range of high-tech lithium-ion batteries, along with its proprietary battery management systems, suitable for two and three-wheelers, light vehicles, and farm tractors.
The company is engaged in discussions with a number of OEM manufacturers and fleet operators for supply of batteries and related systems.
“We are grateful to the Tamil Nadu Government for their vision in attracting investment in the fast-growing EV and EV-component sectors”, Grinntech Co-Founder Puneet Jain said.
Chennai has had the label of “Detroit of the East”. Now, as the global auto industry shifts to electrification, this initiative by the state government will help India’s EV industry be future-ready, he added.
In yet another step in their growth strategy, Grinntech also announced the appointment of E. Balasubramoniam as its President.
Balasubramoniam brings over 35 years of experience in the auto industry, including prior leadership roles in Maruti-Suzuki, Tata Motors and most recently as Senior Vice-President at Ashok-Leyland and CEO of the Nissan-Ashok Leyland JV.