Latest News | Pavna Industries Forays into EV Segment; to Supply Auto Components to OLA Electric
Get latest articles and stories on Latest News at LatestLY. Steel and automotive player Pavna Industries on Monday said it has signed an agreement with EV player OLA Electric to supply auto components, marking an entry into the domestic EV sector.
New Delhi, Apr 22 (PTI) Steel and automotive player Pavna Industries on Monday said it has signed an agreement with EV player OLA Electric to supply auto components, marking an entry into the domestic EV sector.
As part of the pact, it will provide auto components like ignition switches and latches to OLA Electric across its manufacturing plants in India from its manufacturing unit at Aligarh in Uttar Pradesh, Pavna Industries said in a statement.
"With this partnership, we are foraying into the two-wheeler electric vehicle segment," Pavna Industries Managing Director Swapnil Jain said.
Shares of the UP-based Pavna Group closed at Rs 561.40 apiece, up 4.99 per cent from its previous close on the BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)