New deal in the presence of the Chief Minister
Magenta is preparing to set up a new factory in Tamil Nadu with an investment of about Rs 250 crore. In this news we will see about this company’s MoU with the Government of Tamil Nadu in this regard.
Magenta is a Mumbai-based public EV charging station construction company. That is, the company’s mission is to create charging stations for electric vehicles. The company, which built and opened India’s largest charging station in Navi Mumbai last July, is set to set up a factory in Tamil Nadu soon.
The agreement was signed at the 2024 Tamil Nadu Entrepreneurship Conference held in Coimbatore on November 23 in the presence of the Chief Minister of Tamil Nadu. Maxon Lewis, CEO and Managing Director of Magenta, has signed an agreement to set up charging stations across the state of Tamil Nadu.
Magenta, which is investing nearly Rs 250 crore for this, will set up a new factory in our state to develop design & product management and structural standards to the point of discovering new EV technologies.
This means that not only the new factory but also the research & innovation center is to be set up with this investment.
If a new factory is to be built in a state, it means that jobs will be available for specific areas in that state. Magenta,
It said about 500 jobs would be created in the next two years if the new factory is established.
In total, Magenta will train 1,600 employees over the next five years to manufacture, assemble, assemble and operate EV chargers. According to Magenta, the investment is aimed at creating a strong EV charger supply chain and making Tamil Nadu an EV-ready state.
Headquartered in Mumbai, Magenta has a number of specialties. Sun-powered EV charging stations are arguably the first EV charging walkway and charging grid processor on the Mumbai Expressway. The charger-grid processor integrates all of Magenta’s charging stations into one mobile.
Speaking after signing this new MoU with the Government of Tamil Nadu, Maxon Lewis said, “It is indeed gratifying to join the Government of Tamil Nadu. He said the new agreement strengthens our objective of creating a strong EV ecosystem in India.
Magenta hopes to make Tamil Nadu the next hub for electric vehicles in the country, along with a talented workforce, strong infrastructure, a progressive and investor-friendly government. The competition from last-mile logistics companies like Magenta is getting stronger day by day across the country.
Although they compete with each other for their business, it goes without saying that their competition will make Indian transport carbon free. The number of electric vehicles purchased for personal use is gradually increasing due to the contribution of such companies.
In particular, sales of electric two-wheelers are on the rise in Tier-1 and Tier-2 cities due to rising fuel prices. We have been saying from the beginning that the use of EVs in our country is increasing only through electric two wheelers. This is evidenced by the new start-ups of electric start-ups. At the same time, sales of electric cars are growing rapidly.
Very few companies, such as Tata Motors, manufacture electric cars in India, while the majority of electric cars are made entirely abroad and imported and sold in India. Thus although the modes of sale change, one of the most common requirements for all of these is charging stations. Magenta is setting foot in our state to create it in Tamil Nadu.
