Epic Energy Limited (EPIC) has unveiled a strategic partnership with Fenfeo Automotive Private Limited to launch a state-of-the-art electric vehicle (EV) charger manufacturing plant in Coimbatore. This new facility is set to commence operations with a production capacity of 15,000 chargers annually. As market demands evolve, there are plans to expand this capacity further. As of today at 10:23 am, EPIC’s shares were trading at ₹40.37, reflecting an increase of ₹0.79 or 2 percent on the Bombay Stock Exchange (BSE).
In this joint venture, EPIC will retain a substantial 76 percent stake, while Fenfeo will control the remaining 24 percent. The project, which necessitates a total investment of ₹500 lakhs for capital expenditures (CAPEX) and operational expenditures (OPEX), is projected to generate annual gross revenues of ₹15 crores, assuming an 80 percent utilization of its production capacity.
This venture is strategically timed to tap into India’s rapidly expanding EV charging infrastructure market, which is anticipated to reach a value of $6 billion by the year 2030. According to Nikhil Morsawala, Chief Financial Officer of EPIC, the manufacturing facility is on track to become operational by early 2025. This initiative reflects EPIC’s commitment to advancing green energy solutions for electric vehicle charging, utilizing Fenfeo’s well-established technology and robust customer network within the South Indian region.
The collaboration between EPIC and Fenfeo aims to address the increasing demand for EV chargers in India, driven by the country’s ambitious goals to transition to cleaner energy sources and the burgeoning popularity of electric vehicles. By combining EPIC’s extensive experience in the energy sector with Fenfeo’s innovative technology and regional market presence, the joint venture is positioned to play a pivotal role in supporting the growth of sustainable transportation infrastructure.
The new manufacturing unit will not only contribute to meeting the rising demand for EV chargers but also strengthen the partnership’s ability to innovate and scale operations in response to market needs. This strategic move underscores EPIC’s dedication to fostering environmentally friendly energy solutions and supporting the broader adoption of electric vehicles across India.
Epic Energy Limited (EPIC) is a leading energy company specializing in sustainable solutions and green technologies. With a focus on advancing renewable energy sources, EPIC develops and manages innovative projects across the energy sector. The company is committed to promoting environmental sustainability and expanding its footprint in emerging markets, particularly in the electric vehicle and clean energy sectors.
