Grinntech, an IIT-Madras Research Park incubated startup working in the lithium-ion batteries space said that it is having talks with original equipment manufacturers (OEMs) to supply batteries and related systems. The company 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 EVs.

Outlay of almost Rs 100 crore

A company statement said that it has planned an outlay of almost Rs 100 crore for research and development, product development and production facilities that will generate employment of 250 staff over the next five years. Grinntech co-founder Puneet Jain said the company is 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. Balasubramoniam, an alumnus of IIT-Madras, with over 35 years of experience, had served Maruti-Suzuki, Tata Motors and Ashok Leyland previously.