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Shakti Pumps Increases Investment in EV Subsidiary to Rs39 Crore

Shakti Pumps (I) Ltd. has invested an additional Rs4 crore in its wholly owned subsidiary, Shakti EV Mobility Pvt. Ltd., bringing its total investment to Rs39 crore. Established in December 2021, Shakti EV Mobility manufactures EV motors for two-wheelers, three-wheelers, four-wheelers, special purpose vehicles, and EV chargers at its Pithampur, Madhya Pradesh facility. As of March 31, 2024, the company reported a turnover exceeding Rs4 crore, reflecting its growing presence in the EV components sector.