Salzer Electronics has executed a Joint Venture Agreement with Kostad Steuerungsbau GmbH to manufacture DC Fast charging stations for electric vehicles (EV). Salzer will form a joint venture company named Salzer Kostad EV Chargers, with Austria-based company Kostad Steuerungsbau GmbH (Kostad). The JV will engage in the manufacturing of DC Fast charging stations for electrical Cars, Trucks & Buses, and components and systems thereof, in India.
Through this technical alliance, Kostad would provide technical know-how and requisite technology support to Salzer for the production of EV charging stations and related components. Salzer and Kostad would hold 26% and 16% equity in this JV respectively, E-March LLP – a Technology company with abundant resource and knowledge in Power electronics will hold 6%, while the rest would be held by private investors. The total investment in this venture would be Rs 18 crores, 26% of which will be borne by Salzer over a period of 12 months.
Salzer Electronics made its debut in the Electrical Industry with an aim to design, develop, manufacture and supply CAM operated Rotary Switches, selector switches, Wiring Ducts, Voltmeter Switches and allied products. It is headquartered in Coimbatore, Tamil Nadu.
