Sunlit Power To Invest Rs 100 Cr In Battery Production Facility In 2 Years

Batteries maker Sunlit Power on Monday announced plans to invest Rs 100 crore over the next two years to set up an automated manufacturing facility in Pune.

The company, the maker of ARENQ brand of batteries, also said it plans to expand its presence across Kerala, Chennai, Delhi, and Bangalore in the current financial year.

The company has a 100 MW-capacity production unit in Nandurbar (Maharashtra), which is not automated. Besides, it has an existing sales and service branch in Thiruvananthapuram.

The facility, which is already under construction and is expected to be completed by October this year, would have a capacity of 200 MW per month, Sunlit Power said.

Automating its manufacturing units is just one of the many plans, the company said and added that it is eyeing business association with a multinational corporation and a major two-wheeler manufacturer.

The company said it will be producing solar off-grid solutions and inverters for the MNC and batteries for high-speed electric bikes to be launched in 2025.

"The Rs 100 crore investment in automating our manufacturing unit in Pune is a strategic move that will enable us to increase efficiency and productivity, said Shyam Manohar Nayak, Chairman of Sunlit Power.

It will help the company meet the growing demand, he said, adding that at the same time, the new service centres across the country will further help it reach more customers.

The company said it plans to double the capacity at the Pune facility to 400 MW per month by the fiscal 2025.

"Our expansion plans across metro cities will help us strengthen our presence in the market and provide better sales and service support to our customers, said Jitendra Patil, Managing Director of Sunlit Power.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)