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Grinntech in talks with OEMs, plans 10-crore outlay for R&D

Chennai, Oct 14 (PTI): Grinntech, an IIT-Madras Research Park incubated startup engaged in lithium-ion batteries, is holding talks with OEMs (original equipment manufacturers) to supply batteries and related systems, the company said on Wednesday.

Grinntech recently signed a memorandum of understanding (MoU) with the Tamil Nadu government to establish a battery and battery management system-manufacturing facility in the state to serve electric vehicles.

The company has planned an outlay of almost Rs 100 crore for research and development, product development and production facilities leading to employment of 250 staff over the next five years, a company statement said.

Grinntech has showcased a range of high-tech lithium-ion batteries, along with battery management systems, which are suitable for two- and three-wheelers, light vehicles and tractors.

‘The company is engaged in discussions with a number of OEMs and fleet operators for supply of batteries and related systems,’ the company said.

Grinntech co-founder Puneet Jain said,’We are grateful to the government of Tamil Nadu for their vision in attracting investment in fast-growing EV and EV component sectors.’ The company also announced the appointment of E Balasubramoniam as its president.

Prior to the new role, Balasubramoniam, an alumnus of IIT-Madras, with over 35 years of experience, had served Maruti-Suzuki, Tata Motors and Ashok Leyland.

Grinntech directors Dr V Sumantran and Lakshminarayan welcomed Balasubramoniam on his appointment, the statement said. PTI VIJ NVG NVG