MIC Electronics Limited (MICEL), based in Hyderabad, announced that it wants to aggressively penetrate the domestic EV ecosystem in the current fiscal year, in addition to revitalising its existing business lines.
The move into electric vehicles is in keeping with the company’s diversification plan, according to a press statement.
In June of last year, MIC Electronics was taken over by a new management team.
MICEL has opted to aggressively foray into the production of all types of EV batteries, including Li-ion batteries, as part of its strategic forthcoming focus on the EV-enablement market in India, according to the firm.
