ACME Solar looks to diversify into electric vehicles, storage power systems

ACME recently won 600 Mw of solar project offered by SECI at a tariff of Rs 2.44 per unit

Gurugram-based ACME Solar, which has India’s highest solar power project capacity of 2GW in the pipeline, is looking to diversify into electric vehicles (EVs) and storage power systems. 

“We are in discussion with several global manufacturers of EVs. Initially, the plan is to set up an assembly unit. Our strength lies in battery swapping and we would focus on that model when we enter the EV segment,” Shashi Shekhar, vice-chairman of ACME, told Business Standard. 

The company, which planned an initial public offer but put it on hold, is also looking at solar-plus-storage power projects. The cost of storage currently