Salzer Electronics, Kostad to create DC fast charging stations JV in India

Salzer Electronics said that it will create a joint venture (JV) called Salzer Kostad EV Chargers with Austria-based Kostad Steuerungsbau for manufacturing DC fast charging stations for electric vehicles (EV).

The DC fast charging stations manufactured by Salzer Kostad EV Chargers will serve electrical cars, trucks, and buses, and components and systems in India, said the Tamil Nadu-based company.

Kostad Steuerungsbau will offer the JV its technical expertise and required technology support to Salzer Electronics for producing EV charging stations and associated components.

Rajesh Doraiswamy – Managing Director of Salzer Electronics said: “Our manufacturing capabilities would be well complemented by the technical know-how from the Kostad team, to deliver international standard DC Fast chargers for E Vehicles and components for EVs in India.

“We will also be supplying to the south east Asian markets and Middle East apart from India. However, India will be our key and most important target to begin with.”

Salzer Electronics and Kostad Steuerungsbau will have stakes of 26% and 16%, respectively in Salzer Kostad EV Chargers.

E-March LLP, a Tamil Nadu-based technology company with resources and knowledge in power electronics, will have a 6% stake in Salzer Kostad EV Chargers, while the remaining stake will be held by private investors.

The total investment in the DC fast charging stations manufacturer will be INR 18 crores, of which 26% will be borne by Salzer Electronics over a period of 12 months.