Innolia Power, a US primarily based firm, has introduced the launch of part one of many Rs 225 crore built-in photo voltaic, lithium ion battery and electrical automobile meeting facility in Telangana.
The corporate promoted by an NRI plans to make a phased funding of Rs 225 crore within the undertaking to fabricate photo voltaic modules, assemble lithium batteries and electrical automobiles. “As an organization promoted by entrepreneurs primarily based within the US who’ve been serving firms with our know-how options. This built-in facility is a pure extension,” Arvind Reddy, CEO of Innolia Power, stated.
The corporate plans to arrange a facility for 300 MW and grow to be an built-in facility for customisable answer supplier for photo voltaic panels, lithium battery for 2 and three-wheelers and EV merchandise manufacturing beneath a single roof.
“Whereas the part one will start business manufacturing from subsequent month on a Four-acre website allotted by the Telangana Authorities in E-Metropolis, we anticipate to roll out electrical two wheelers early subsequent 12 months. Within the first part Rs 30 crore has been invested,” he informed Enterprise Line.
Arvind Reddy stated “As a know-how and manufacturing firm, we’re dedicated to scale the renewable manufacturing with superior know-how integration to ship high quality, cost-effective and helpful merchandise to our finish customers in India and overseas.”
On the Renewable Power India Expo being held throughout September 18-20 at Higher Noida, Innolia plans to showcase its built-in photo voltaic, lithium battery and EV merchandise. Arvind Reddy attracts up from 27 years of expertise in Silicon Valley working for a number of the main tech companies.