Ahmedabad company to set up EV charging and manufacturing unit in North America
Ahmedabad-based Vivanta Industries Ltd (BSE – 541735) says it is focused on Africa and has signed a MoU with a research centre in Tanzania while venturing into new verticals such as having started work on the Drone and EV businesses.
In September 2023, company entered in to In-principal Memorandum of Understanding (MOU) with Vivanta Drone Research Centre Tanzania Ltd (VDRCTL). Vivanta Industries Ltd will acquire 50% stake in VDRCTL for setting up assembly line as well as R&D of drones.
The company expects a sizable business opportunity from African Continent and look to expedite the project.
It is working on expanding drone business.
Vivanta has received US$5 million work order in April 2023 from Electric Vehicle Organizational Centre North America Corporation (EVOCNA) for establishing EV charging and manufacturing unit.
It expects to establish the plant in 18-24 months and required software in 6-12 months from the date of receipt of order. The order is for commercialization of Electric Vehicle technologies, which include vehicle-to-grid, Vehicle-to-building, and vehicle-to-load capabilities, by validating the technologies and demonstrating the commercial viability of such technologies.
Vivanta expects to reach sales worth approx. US$10 million and above after establishing the project. Fiinews.com
