CG Power to make EV motors

Bitten by the electric vehicle mobility bug, CG Power and Industrial Solutions Ltd. (CGPISL) has accorded priority for making motors for EVs and has started talking to some existing players.

“This is certainly a priority area for us. We continue to work to see how we can meet the requirements of the electric vehicles,” said N. Srinivasan, MD during an analysts call.

To a question, he said company officials were in talks with some existing players to explore how they can develop motors for electric vehicles. At the same time, he also ruled out getting into battery manufacturing for EVs.

“We are talking to a lot of people. We are also doing some development work. Nothing concrete has come to disclose or talk,” he said.

Mr. Srinivasan also said that the company was capable of manufacturing motors for EVs, whether it was for group or non-group. As the company is having some capability, it would be leveraged to meet the market requirement.

He also said the company had secured an order relating to Vande Bharat trains. However, he did not elaborate.

“Going forward, when we establish our credentials, we will be ready and fit for participating in the tenders after two years of time. Then, we could be in a position to fight against all our competitors who are major players such as Alstom or Medha and Siemens,” he said.

CGPISL has two transformer manufacturing facilites — one in Bhopal for power transformers and another in Gwalior for distribution transformers. Capacity expansion in both these plants is on the anvil, said Mukul Srivastava, president, power systems.