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Ruchira Green Earth to invest Rs 200 cr to set up manufacturing unit in Haryana

Friday, 07 May 2021
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Ruchira Green Earth will make an investment of Rs 200 crore over the next three or four years. The company will set up a new manufacturing unit in Haryana to double its production capacity.
 
The company, which has a current capacity of manufacturing up to 5,000 batteries per month, is setting up a new unit at Yamuna Nagar to fulfill the rising demand for its products. The funding will be done through internal accrual of Rs 50 crore and bank loan.  
 
Ruchira Green Earth,which sells EV batteries under flagship brand AKIRA, has bagged orders from OEMs such as Gemopai, Tunwal, Myantra, Benling, Komaki for the supply of lithium-ion batteries for electric scooters. 
 
At present, the company produces lithium-ion batteries for electric two-, three- and four-wheelers for commercial vehicles, loaders, forklift trucks, golf carts, etc. The company is now targeting energy storage systems, home storage and energy storage solutions from banks, hospitals, industries and government contracts for villages, defence, railways and telecom sectors, among others.
 
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