Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Daewoo To Invest ₹300 Crore For Product Expansion

- Advertisement -

On Wednesday, Daewoo India announced its plans to invest approximately ₹300 crore within the next 2 to 3 years. This investment aims to venture into new market segments and expand its presence across the country further.

The South Korean company has formed a strategic partnership with Kelwon Electronics and Appliances, the sole brand licensee for Daewoo in India. HS Bhatia, who has prior experience with LG and Airtel, is at the helm of this partnership.

The company recently launched 23 new offerings in the battery and inverter sector. Daewoo India will branch into consumer electronics and the electric two-wheeler market in the next two years. Bhatia, the Managing Director of Kelwon Electronics, shared at the product launch that over the next 2-3 years, they plan to allocate about ₹300 crore. They will first commit ₹40-50 crore to introduce a product category. Once it gains popularity, they will invest an additional ₹100 crore for other items like electronics, with the remaining funds earmarked for market expansion.

- Advertisement -

Bhatia noted that the company has not yet entered the electric two-wheeler market due to specific government policy requirements, including the production-linked incentive (PLI) scheme.

Daewoo India is targeting the North, Central, and West regions, working with nearly 300 distributors and partnering with 8,000 retailers. They aim to expand their presence to the South and East of India in the coming two years.

Chan Ryu, a Director at Kelwon Electronics overseeing Daewoo India’s operations, stated that they are initially introducing a wide range of power and energy products. These encompass batteries for cars, bikes, and inverter and solar batteries. Soon, their consumer durables segment will feature products like air purifiers, LED TVs, audio systems, water purifiers, intelligent fans, air coolers, home automation tools, and a vast selection of small home and kitchen appliances.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

Applied Materials, Absolics, ASU Win $100M Each For Packaging Innovation

0
To advance semiconductor packaging, boosting AI and tech innovation, the U.S. government has awarded up to $100 million each to Applied Materials, Absolics, and...

Vingroup Unveils VinRobotics For AI And Automation Advances

0
VinRobotics, boasting a charter capital of VND 1,000 billion, will concentrate on crafting intelligent robotic products and solutions aimed at boosting production efficiency. These...

India’s Mobile Export Boom Pushes For Airport Infrastructure Overhaul

0
New airports to keep up with India's mobile export surge? To meet $180 billion target by 2030, manufacturers are urging upgraded and expanded cargo...

Ather Energy Introduces ‘Eight70 Warranty’ For EV Scooter Batteries

0
The Eight70 Warranty provides protection for either eight years or 80,000 kilometres, depending on which limit is reached first. Electric two-wheeler manufacturer Ather Energy introduced...

India To Offer $5B Incentives For Electronics Manufacturing

0
Eyeing to reduce Chinese imports and powering its $500 billion industry goal, India plans to offer up to $5 billion in incentives to boost...

“We Bring Intelligence Early On Into The Design Cycle” – Michel Van Cotthem VP...

0
With a solution embedding intelligence early in the design-to-source lifecycle, Supplyframe aims to leverage India’s electronics manufacturing boom. At IEW 2024, Michel Van Cotthem...
Vijai Karthick Selvam, Director of Teqtis

“We Do Everything From The Initial Concept To The Final Box Build” – Vijai...

0
Why are testing and R&D essential to combat printed circuit board manufacturing challenges? Speaking to EFY's Nitisha Dubey, Vijai Karthick Selvam, Director of Teqtis,...
Abhishek Malik, Executive Director, Calcom Vision Ltd

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...

HKTDC Electronics Fair Sparks Innovation, 60,000+ Participants!

0
Showcasing cutting-edge tech, global innovation, and booming markets for the future of electronics, HKTDC’s Hong Kong Electronics Fair and electronicAsia drew 60,000+ professionals. Last month,...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

Industry's Buzz

Applied Materials, Absolics, ASU Win $100M Each For Packaging Innovation

0
To advance semiconductor packaging, boosting AI and tech innovation, the U.S. government has awarded up to $100 million each to Applied Materials, Absolics, and...

Vingroup Unveils VinRobotics For AI And Automation Advances

0
VinRobotics, boasting a charter capital of VND 1,000 billion, will concentrate on crafting intelligent robotic products and solutions aimed at boosting production efficiency. These...

India’s Mobile Export Boom Pushes For Airport Infrastructure Overhaul

0
New airports to keep up with India's mobile export surge? To meet $180 billion target by 2030, manufacturers are urging upgraded and expanded cargo...

Ather Energy Introduces ‘Eight70 Warranty’ For EV Scooter Batteries

0
The Eight70 Warranty provides protection for either eight years or 80,000 kilometres, depending on which limit is reached first. Electric two-wheeler manufacturer Ather Energy introduced...

India To Offer $5B Incentives For Electronics Manufacturing

0
Eyeing to reduce Chinese imports and powering its $500 billion industry goal, India plans to offer up to $5 billion in incentives to boost...

Learn From Leaders

“We Bring Intelligence Early On Into The Design Cycle” – Michel Van Cotthem VP...

0
With a solution embedding intelligence early in the design-to-source lifecycle, Supplyframe aims to leverage India’s electronics manufacturing boom. At IEW 2024, Michel Van Cotthem...
Vijai Karthick Selvam, Director of Teqtis

“We Do Everything From The Initial Concept To The Final Box Build” – Vijai...

0
Why are testing and R&D essential to combat printed circuit board manufacturing challenges? Speaking to EFY's Nitisha Dubey, Vijai Karthick Selvam, Director of Teqtis,...
Abhishek Malik, Executive Director, Calcom Vision Ltd

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...

Startups

HKTDC Electronics Fair Sparks Innovation, 60,000+ Participants!

0
Showcasing cutting-edge tech, global innovation, and booming markets for the future of electronics, HKTDC’s Hong Kong Electronics Fair and electronicAsia drew 60,000+ professionals. Last month,...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...