Trucking News
Trucking industry news today

Magenta Invests More Than Rs. 250 Crores To Setup Manufacturing Plant In Tamil Nadu

TNI || New Delhi || 26th Nov 2021

Leading Indian Charge Point company, Magenta, has ended up signing a memorandum of understanding with the Tamil Nadu government to build and enhance the EV charging infrastructure in the state.

The agreement was signed by Magenta CEO & MD Maxson Lewis in presence of Tamil Nadu Chief Minister, M.K. Stalin.

Daimler India Partners With Shriram Automall To Tap Used Commercial Vehicle Business

The occasion was the Tamil Nadu Investment conclave held at Coimbatore.

Under the agreement, Magnets would invest close to a whopping Rs. 250 crores in order to set up a manufacturing unit that will be focused on architecture, design, and product development of EV technology when it comes to the e-mobility space.

Amazon Web Services To Make Apollo Tyres Smarter With IoT & Machine Learning

The investment made by Magnets will be purely into R&D as well as manufacturing of cutting edge technologies and thereby giving out a broader set of choices to the users.

The new plant in Tamil Nadu will also ensure job opportunities to local communities by creating almost 500 jobs in the region in the next couple of years.

Ashok Leyland Takes A Robust Step Towards Green Mobility Future

Besides this, 1600 plus employees shall get trained in EV charger manufacturing, it’s assembling, and installation as well as operations, for the next five years.

Maxson Lewis, the top boss at Magenta, says that they are proud to partner with the state government in strengthening its vision of building a worthwhile EV ecosystem in the country.

Magenta today has many firsts to its credit, including solar-based EV charging stations, the country’s first EV corridor between Pune and Mumbai, and an integrated and automated network of all charging stations on mobile called ChargeGrid App