Power and energy storage company Luminous Power Technologies has plans to expand its battery manufacturing capacity by adding two-three assembly lines at its existing plant at Gagret in Himachal Pradesh with an investment of Rs 70-100 crore over the next six months.
“The assembly lines will help in doubling the current manufacturing of batteries across divisions including automotive, motorcycle and four wheeler battery,” Sudhir Kalla, president (sales and marketing), Luminous Power Technologies, told mediapersons here. The UPS market in India is around 10 million units, and growing 20 per cent year-on-year.
“Luminous recorded a turnover of Rs 1,250 crore last year. We expect a 50-60 per cent growth this financial year backed by our proposed assembly lines,” he said. The company's inverter and inverter battery segment contributes 70-75 per cent to its turnover.
The company is going to pilot-launch an initiative ‘Grameen Urja Hut’, based on the village electrical shop concept, at Hajipur in Bihar this month. The hut will be in small size housing all products from Luminous.
“The initiative is aimed at D-class villages in rural areas, covering those where power is partly available and without power connection, basically to make the products available at the doorstep of rural consumer,” he said.
The project will be pilot-launched across 60-70 villages, and depending on the success of the model, the company might expand, he added.
Kalla was here to felicitate the company's top performing channel partners from the southern market.
