Electrical two- and 3-wheeler battery pack company Neuron Energy has declared that it will be investing a further more Rs 50 crore into its production operations. The financial investment will be split between functioning funds funding and fairness from promoters and strategic partners and is aimed at boosting battery pack creation.

The organization suggests that the go is aimed at catering to the rising demand for electrical automobiles in the state.

Commenting on this funding, Pratik Kamdar, Co-founder of Neuron Power Non-public Restricted stated, “In get to further more the EV 2W and 3W segment in the state, we have normally been concentrated on producing significant-excellent, person-friendly batteries. This expenditure will assist us equalise the need-supply ratio for batteries. We are self-assured to fulfil the improve in demand from customers in our order e book by way of this funding at the specified time.”

Neuron Power claims that the financial investment will be utilised to support fulfil orders acquired from huge OEM (unique machines companies) though also growing creation and income flows. The company claimed it also has ideas for backward integration into stocking raw components as nicely as escalating generation even further as a result of contract producing.

The company is also preparing to construct a new ‘mega-plant’ in India by 2025.