The company entered into an MoU with RENERA and LDrive LLC (L-Charge for its battery storage and EV charger manufacturing businesses, respectively
Mumbai-based electrical contacts manufacturer Modison Metals Limited is the latest company to foray into the fast-growing electric vehicle business in the country, announcing its entry into trading, assembly, and manufacturing of battery energy storage systems (BESS) and electric vehicle charging infrastructure in India.
The company announced that it has received its Board approval to enter into MoU with RENERA and LDrive LLC (L-Charge), both of which are based in Russia, for its battery storage and EV charger manufacturing businesses, respectively.
RENERA produces energy storage systems based on lithium-ion batteries for special equipment, telecommunications systems, uninterruptible power supplies, energy storage systems, electric transport, railways, and other areas. It offers solutions with capacities ranging from 10 kWh to 20 MWh.
L-Charge, on the other hand, provides rapidly scalable off-grid ultra-fast chargers powered by clean fuels. It offers EV chargers in two variants, stationary and mobile. The stationary version can be installed in any location, supermarkets, hotels, roads, traditional petrol stations, etc. The mobile version is an on-wheel unit that can move around a city and charge EVs.
Modison Metals’ management team said, “We are excited by the Board’s decision to approve the business expansion plan into battery energy storage system and EV charging infrastructure. We foresee high growth opportunities in these sectors given the promise of clean energy backed by the Government push in these sectors. This will also facilitate India’s efforts to become a net-zero carbon emissions country by 2070. RENERA and LDrive(L-Charge) are leaders in their respective segments. We expect our domain expertise in manufacturing coupled with these MoUs will enable us to scale our business to greater heights in the long term.”
Modison Metals supplies electrical contacts to switchgear manufacturers in India and around the world. It manufactures electrical contact materials and finished contacts for all segments of the switchgear industry, including low, medium, high, and extra-high voltage. It also produces items for automotive, engineering, aerospace, marine, defense, and railways industries.
