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Pavna Industries partners with OLA Electric to supply EV components

Pavna Industries Limited (NSE: PAVNAIND. BSE: 543915), India’s automotive parts manufacturer, recently announced a partnership with OLA Electric, an electric two-wheeler manufacturer headquartered in Bengaluru. Under the agreement, Pavna Industries will provide high-quality ignition switches and latches to OLA Electric’s manufacturing plants across India.

Commenting on the partnership, Mr. Swapnil Jain, Managing Director of Pavna Industries Ltd. said, “Pavna and OLA Electric joining forces will not only drive affordability but also enhance the quality standards for enthusiasts of two-wheeler EVs. OLA’s comprehensive product range caters to diverse needs of electric vehicle owners and represents a significant leap towards accelerating EV adoption in India. Combined with our indigenous and innovative manufacturing technology, we are confident that we can drive India’s journey towards green mobility.”

Aligned with the government’s initiatives to promote sustainable transportation, India has introduced the Electric Mobility Promotion Scheme 2024 (EMPS 2024), offering incentives for electric vehicle adoption, particularly in the two-wheeler segment. Initially, the focus will be on approximately 3.33 lakh two-wheelers.

Capitalizing on India’s push towards reducing emissions, Pavna Industries plans to expand its product offerings in the electric vehicle segment, including motors and motor controllers, to meet market demand, as stated in their company statement.

Also read: Ola Electric reports 30% M-o-M sales growth in Nov 2023

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