ET Report: Hero Electric to set up greenfield manufacturing unit in Rajasthan

26 Sep 2022 , 06:48 AM

According to its managing director Naveen Munjal, who talked to ET, Hero Electric will invest Rs1,200 crore in the establishment of a greenfield manufacturing facility in Rajasthan.

He added that it will also house a vendor firm that will invest an extra Rs400 crore in the facility. The facility, which will be built in the Salarpur industrial district, will be spread out over 170 acres and have a 2-million-unit annual capacity.

According to Munjal, the facility was the subject of an agreement between the corporation and the Rajasthani government that was inked earlier this month. It is anticipated to start operating by the middle of 2023. By 2025, Hero Electric hopes to have a capacity of 5 million units annually.

The facility will be furnished with cutting-edge machinery, robotics, and technological innovations. It will make use of renewable and sustainable resources like solar power.

The business will also open a new 250,000-unit-capacity manufacturing line in Ludhiana in another six months. It will guarantee sufficient capacity to satisfy demand.

To meet the rising demand, Hero Electric and Mahindra & Mahindra have already begun production at Pithampur. The Mahindra factory in central India will have a capacity of around 250,000 units for the corporation.

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