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MIC Electronics looking to enter domestic EV ecosystem in FY23

24 May 2022 Evaluate

MIC Electronics (MICEL) is looking to aggressively enter the domestic EV ecosystem in the ongoing fiscal (FY23) amid plans to revitalize its existing business lines. The EV foray is in lines with the company's strategy of growing the business efficiently through diversification. With the newly-established batteries division, the company plans to ensure a topline delivery of Rs 45-60 crore by this fiscal end. The company is already in final-stage of talks with a few existing players in the domestic market to expand into areas like EV charging and servicing, among other allied areas.

The company has already picked up a stake in an e-2W company that deals into the multi-brand EV dealership business. Among the key verticals that the company aims to scale include LED display boards, Railways PIS and displays, among others. Simultaneously, MIC has also planned to enter the EV-enabling space in India in a very aggressive way, in lines with its strategy of growing the business efficiently through diversification.

MIC Electronics (MIC) is an India-based company. The company is engaged in manufacturing light emitting diode (LED) lighting solutions. The Company is engaged in the development, production and sale of video and animation displays and text and graphic displays.

MIC Electronics Share Price

42.75 0.88 (2.10%)
17-Apr-2026 16:59 View Price Chart
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