Neuron Energy Private Limited, a lithium-ion manufacturer for electric 2W and 3W in India, plans to invest Rs 50 Crore in the Li-Ion battery pack segment. The investment will be split between 35 crores of working capital financing and 15 crores of equity from the promoters and
strategic partners. This move by the company is to cater to the increasing demand in their order book. Neuron also has plans for backward integration into stocking raw materials and handling production along with a contract manufacturer in the near future. Besides increasing capacity and cash flow, 40 percent of the investment will be used to fulfill orders from large OEMs.
“This investment will help us equalise the demand-supply ratio for batteries. We are confident to fulfil the increase in demand in our order book through this financing at the designated time,” said Mr. Pratik Kamdar, co-founder, Neuron Energy pvt ltd.
In the near future, Neuron may venture into battery research for deep technology as a result of the increase in its R&D team. As part of its expansion plans, Neuron has planned to construct a mega-plant by 2025 that will serve the EV2W and EV3W segments.
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