Vajram Electric Ltd. gears up for major fundraising to expand manufacturing facility, targeting global brands

Mumbai, November 20, 2024: Vajram Electric Ltd., a leading player in India’s electric vehicle (EV) manufacturing space, is set to raise funds as part of an ambitious expansion plan. The funds will be utilised to enhance its production capacity and modernize its manufacturing facility, enabling the company to meet the rapidly growing demand for electric vehicles domestically and internationally.

With electric vehicle adoption on the rise globally, Vajram Electric Ltd aims to position itself as a preferred partner for global automotive giants, such as Acer Electric and Daewoo Motors. By expanding its manufacturing capabilities, the company seeks to establish a stronger foothold in the global EV market, delivering cutting-edge products while staying at the forefront of innovation.

Vajram Electric’s expansion plan revolves around modernizing its existing infrastructure, increasing production lines, and integrating state-of-the-art technology. The new capital will help the company scale up operations to meet the heightened demands of both Indian and international markets, including high-profile clients such as Acer Electric and Daewoo Motors.

The initiative is not only aimed at increasing output but also at embracing the latest technological advancements, including automation, energy efficiency, and smart manufacturing processes. The company’s efforts will improve its overall efficiency, enabling the production of a diverse range of electric vehicles tailored to the varying needs of global consumers.

The electric vehicle industry is experiencing unprecedented growth, with more countries pushing for a shift toward sustainable mobility. Global brands like Acer Electric and Daewoo Motors are seeking reliable manufacturing partners to support their EV production. Vajram Electric Ltd.’s expansion comes at an opportune time when international automotive companies are actively looking to diversify their supply chains and enhance production capacity to meet the surging demand for electric vehicles.

Speaking about the expansion, Chandra Mouli, CEO of Vajram Electric said, "Our goal is to become a key player in the global EV ecosystem. With this expansion, we will not only increase our capacity but also deliver innovative, high-quality products that meet the evolving needs of our clients. We are committed to advancing electric mobility solutions that are sustainable, efficient, and technologically superior."