Salzer electronics to foray into EV sector, incorporates wholly owned subsidiary

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Biznextindia : Coimbatore based  Salzer electronics has incorporated a wholly Owned Subsidiary Company  “Salzer EV Infra private limited” with initial authorized share capital of Rs.10,00,000 comprising of 1,00,000 equity shares of Rs.10/- each.

The wholly owned subsidiary has been incroporated for the companny’s proposed engagement in the new business through JV Company of manufacturing electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles.

“The new wholly subsidiary company was incorporated with an objective of Manufacturing, Trading of all kind of components, systems including development, Manufacturing of software, Components for Electric vehicles of all kinds in India or aboard and making downstream investments in the such JV Companies engaged in the similar line of business” the company said.

 

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