MM Forgings to pump in upto Rs 750 crore in EV

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VIVO v29 lite Specification: Amazing Detailed Review

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MM Forgings to pump in upto Rs 750 crore in EV

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MM Forgings, a leading forgings company in India, plans to invest Rs 500-750 crore in the next five years in its electric vehicle (EV) business.

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The company aims to become a Rs 2,000 crore enterprise in the EV space by 2030.

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MM Forgings' EV business will focus on the powertrain space, which includes components such as electric motors, inverters, and battery packs.

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The company plans to commence its EV business operations by the second quarter of the financial year 2023-24.

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MM Forgings' entry into the EV space is a strategic move to diversify its product portfolio and contribute to the ongoing sustainability efforts within the automotive industry.

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The company's investment in the EV business is also in line with the government's push for the adoption of electric vehicles in India.

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The EV market in India is expected to grow at a CAGR of 30% over the next five years.

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MM Forgings is well-positioned to capitalize on this growth, given its strong manufacturing capabilities and focus on the EV powertrain space.

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The company's investment in the EV business is a positive development for the Indian automotive industry.

VIVO v29 lite Specification: Amazing Detailed Review

VIVO v29 lite Specification: Amazing Detailed Review

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