Thursday, Apr 25 2024 | Time 16:32 Hrs(IST)
image
Business EconomyPosted at: Oct 14 2020 3:53PM


Grinntech inks MoU with TN govt, to invest Rs 100 cr

Chennai, Oct 14 (UNI) 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 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 appointment of Mr E. Balasubramoniam
as its President.
Mr 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.
UNI GV 1552
Please log in to get detailed story.
Tags: #Grinntech inks MoU with TN govt# to invest Rs 100 cr
More News

India’s John Distilleries ‘Nirvana’ wins at London Spirits Competition

25 Apr 2024 | 3:25 PM

New Delhi, April 25 (UNI) John Distilleries Ltd’s Paul John single malt whiskey ‘Nirvana’ has been awarded a “Gold” medal in the prestigious London Spirits Competition 2024. JDL’s two other offerings, Roulette London Dry Gin and Paul John XO Brandy, have also won ‘Silver’ medals. JDL is the only Indian company to have been awarded in three different categories: whiskey, gin, and brandy.

see more..
Dr Reddy’s Lab and Nestlé India enter into definitive agreement to form JV company

Dr Reddy’s Lab and Nestlé India enter into definitive agreement to form JV company

25 Apr 2024 | 2:40 PM

Hyderabad, April 25 (UNI) Dr. Reddy’s Laboratories and Nestlé India have entered into a definitive agreement to form a joint venture company to bring innovative nutraceutical brands to consumers in India and other agreed territories.

see more..
SBI General Insurance records 17 pc growth in topline and a profit growth of 30 pc in FY 23-24

SBI General Insurance records 17 pc growth in topline and a profit growth of 30 pc in FY 23-24

25 Apr 2024 | 2:18 PM

Kolkata, Apr 25 (UNI) SBI General Insurance announced its financial results for FY 23-24, recording 17 per cent growth in topline faster than market growth and a profit growth of 30 per cent in FY 23-24.

see more..
Tata Motors accelerates innovation: record 222 patents filed and 333 grants secured in FY24

Tata Motors accelerates innovation: record 222 patents filed and 333 grants secured in FY24

25 Apr 2024 | 1:10 PM

Hyderabad, Apr 25 (UNI) Part of the USD 150 billion Tata group, Tata Motors Limited, India’s leading automobile company, has yet again achieved a significant milestone towards intellectual property rights (IPR) creation with a record-breaking number of 222 Patents and 117 designs applications filed during the year FY24, highest in its history.

see more..

RITES collaborates with DVC for rail infra works

25 Apr 2024 | 1:05 PM

Mumbai, April 25 (UNI) RITES Ltd., a prime transport infrastructure consultancy on Thursday said that it has signed an MoU with Damodar Valley Corporation (DVC), a statutory body under the Ministry of Power, to collaborate for Project Management Consultancy for rail infra works.

see more..
image