Saakshi MedTech Wins ₹250 Crore EV Panel Deal with Mahindra & Mahindra

12 Dec 2024 , 10:53 AM

Saakshi MedTech and Panels Ltd has secured the big business order from Mahindra & Mahindra Ltd for supply of electric vehicle panels. Business Award Letter (LoBA) was duly confirmed on 10 December 2024.

The business order is worth about ₹250 crore, inclusive of GST, for five years of the period up to 2029. The warranty would be three years on the provided electric vehicle panels. Delivery for the EV panels is due within 60 days from the contract date.

Saakshi MedTech and Panels manufacture electrical control panels and cabinets for several industries. They cater to elevators, air compressors, renewable energy, oil and gas exploration, and EV charging stations.

It symbolises the growing presence of Saakshi MedTech and Panels in the EV sector along with its focus on next-gen solutions. The partnership with Mahindra & Mahindra signifies the company’s capability of delivering high-quality products in emerging markets. This further strengthens Saakshi MedTech as a go-to supplier for large projects for India’s growing electric vehicle market.

Saakshi MedTech and Panels Ltd. (SMTPL) was founded in 2001 by Mr. Vijay Latkar, a seasoned technocrat with extensive experience from General Electric. The company runs three facilities in Pune’s Industrial Zone, focusing on the medical, electrical, and mechanical industries.

What sets SMTPL apart is its diverse and skilled teams, which include experts in marketing, engineering, procurement, logistics, quality assurance, and testing. These teams work with the clients to come up with their needs, customized solutions and all this for the unique client’s needs.

Over time, SMTPL has been earning the reputation of delivering high quality and innovative products and services and staying abreast of constantly changing demands in the market.