Mecwin India Invests Rs 50 Cr to Set Up New Manufacturing Unit

Bangalore-based EV start-up, Mecwin India has announced a new manufacturing unit in Bengaluru, Karnataka for EV motors and controllers. The firm is going to invest Rs 50 Cr in this manufacturing unit, it claims. 

According to the company’s statement, Bengaluru’s production plant for domestic EV motors and controllers will be up and running by the end of this year. The plant will initially be able to produce 2,000 units each day with cutting-edge technology. 

It will satisfy domestic hub and mid-drive motor demand from significant EV original equipment manufacturers (OEMs). For 2, 3, and 4-wheelers, the company produces EV motors. These all motors are designed, developed, and manufactured in India.

Mecwin estimates that the market for electric vehicles in India will grow from its current value of Rs140 crore to Rs 1500 crore by 2027. But one of the urgent problems is to encourage domestic production of essential EV parts like motors, controllers, batteries, battery management systems (BMS), and other electronics.

Mecwin recently announced its entry into the EV retrofitting market with a deal with Raipur-based Tatva Group valued at Rs 1500 crore. Over the next three years, the company will produce and provide Tatva Group with 500,000 retrofitting kits, which include a motor, controller, lithium-ion battery, and charger for various vehicles.

Shiva Kumar HM, Co-founder & Director of Mecwin India, stated, “We are happy to establish our top-tier EV motor and controller factory in Bengaluru and to assist the Karnataka government’s goal of turning the state into a hub for EV manufacturing on a global scale. The factory is also a significant step toward achieving our goal of establishing and assisting a domestic EV component manufacturing ecosystem and empowering EV OEMs.”

“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. To make sure that premium EV motors and controllers are supplied, we will closely collaborate with top OEMs. As demand increases, we also want to progressively increase capacity.”