Shakti Pumps Boosts Investment in EV Subsidiary to Accelerate Growth

Shakti Pumps (India) Ltd has announced a fresh investment of 40 million rupees in its wholly-owned subsidiary, Shakti EV Mobility Private Limited. This latest infusion brings the total consolidated investment in the EV subsidiary to 350 million rupees. Shakti EV Mobility, incorporated in December 2021, focuses on manufacturing electric vehicle motors, chargers, and controller. The investment aims to expand the subsidiary's operations in the rapidly growing EV sector, leveraging Shakti Pumps' expertise in motor manufacturing. This strategic move aligns with the company's vision to diversify its portfolio and capitalize on the burgeoning electric vehicle market in India.
Source: Business Standard