Tesla Power India, Thaihuawei Battery Co. Thailand to invest Rs 150 crore, set up facility in India
Tesla Power India, a player in the battery industry, has partnered with Thaihuawei BatteryCo. Ltd., Thailand to introduce long-life Motorcycle Batteries.
The Ministry of Trade and Commerce in India has endorsed the Free Trade Treaty (FTT) between India and Thailand, encouraging this strategic alliance between the two MNCs.
Thaihuawei Battery Co. Ltd., Thailand will establish a state-of-the-art manufacturing facility in India in partnership with Tesla Power India, when their business grows substantially. This facility is projected to have the capacity to produce a staggering 12 million batteries annually, at an estimated investment of Rs 150 crore. This endeavour is set to create 5000 jobs, directly as well as indirectly, contributing significantly to India’s employment landscape.
One of the key advantages of this collaboration is the significant reduction in costs, owing to the zero-import duty from Thailand when compared to sourcing batteries from China.
This partnership between the two MNCs aligns with the shared goal of boosting trade and facilitating economic growth. With a primary focus on motorcycle batteries, this collaboration aims to bring superior technology and affordability to the Indian market.
Kavinder Khurana, Managing Director of Tesla Power India states, “Approximately 1 Crore motorcycle batteries are replaced every month in India. If the life of motorcycle batteries can be increased using our innovative technology, it will save the cost for the Indian consumers.”
Jaroon Jaruratchatanon of Thaihuawei Battery Co. Ltd., Thailand said, “We are excited about the future possibilities of this collaboration with Tesla Power India Pvt. Ltd.. Together, we aim to drive innovation, make batteries affordable, create jobs, and contribute to the sustainable development of India’s Battery sector.”
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