Grinntech inks MoU with tn government, to invest Rs 100 cr

Chennai: Grinntech, an investor-backed start-up specialising in lithium-ion batteries for EVs and energy storage systems has signed a MoU with the Tamilnadu government for setting up a battery and mattery management system manufacturing facility to cater to the anticipated growth of Electric Vehicles (EVs) in India.

A statement said Grinntech already operates its R and D and pilot manufacturing facility in Chennai.

In addition, it has outlined plans for outlay of almost Rs 100 crores for R and D, product development and production facilities which will lead to employment of 250 staff over the next five years.

“We are grateful to the Tamilnadu Government for their vision in attracting investment in the fast growing EV and EV-component sectors”, Grinntech co-Founder Puneet Jain said.

 

NT Bureau