In a regulatory filing on Thursday, the company said, HPL Electric & Power is one of India’s leading electrical equipment manufacturer, with sizable presence in meters and smart meters segment. The R&D center is located at the HPL’s manufacturing facility at Gurugram, Haryana. With this investment in developing next generation of smart meter technology, HPL aims to widen its smart meter portfolio, and further strengthen its market penetration domestically as well as internationally.
Mr. Gautam Seth, Joint Managing Director, HPL Electric & Power Limited, said: "We are very much focused on enhancing our smart meter technological base and become the market leader in the segment. With an aim to make technology a key pillar for future growth, we are investing in R&D to develop next generation smart technology to meet the future requirements with best-in-class metering solutions."
Over 200 engineers will be working at the R&D center, conducting advanced research in developing solutions for smart meters technology, other meterign solutions and communication technology. With a solution-based approach, HPL is aiming to bring in advanced IoT and AI-enabled smart solutions and products for the Indian and international markets.