Ruchira Green Earth set to invest Rs 200 cr to set up the plant in Haryana
Ruchira Green Earth set to invest Rs 200 cr to set up the plant in Haryana
Ruchira Green Earth private limited will be investing Rs 200 Cr over three to four years by setting up a lithium-ion battery production plant in Haryana, India. The company aims to double its production capacity.
ESTD in 2020 Indian-based company, Ruchira Green Earth private limited manufactures Lithium-ion battery and other associate products as well for electric two, three and four-wheelers, loaders, forklift trucks, golf carts, and many more. Ruchira Green Earth aims to invest 200 Cr to increase the production capacity by double though their current production unit is capable of producing up to 5000 lithium-ion batteries per month to accompany the future demand the company will expand the capacity.
The Funds incorporated through internal accrual of Rs 50 crore and the rest from a bank loan, The company stated that adding the fresh investment would be made over three to four years.
Ruchira Green Earth Director Deepan Garg said “We are delighted to have been awarded contracts from many OEM’S for the supply of lithium-ion batteries …Moving ahead with a ceaseless commitment towards accelerating the transition to electric vehicles, we look forward to winning many more such contracts with major OEMs in the EV segment,”
Ruchira Green Earth, which sells EV batteries under flagship brand AKIRA, said it has bagged orders from OEMs such as Gemopai, Tunwal, Myantra, Benling, Komaki for the supply of lithium-ion batteries for electric scooters.
Lately, the company targets energy storage systems, home storage, and energy storage solutions from banks, hospitals, industries, and government contracts for villages, defense, railways, and telecom sectors, among others, the statement said.
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