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Zetwerk dives into IT Hardware, EV components manufacturing
Industry News- Sep 12,23
Zetwerk is currently engaged in discussions with potential customers for component manufacturing partnerships and is exploring the establishment of a manufacturing plant in the western part of the country
Zetwerk, a prominent manufacturing services company, is embarking on a new venture in the IT hardware sector, including the production of laptops, and is also gearing up to manufacture components for electric vehicle (EV) manufacturers, as revealed by the company's co-founder, Rahul Sharma.
Having achieved unicorn status in 2021, Zetwerk is poised to invest over Rs 1,000 crore into its consumer electronics division over the next three years. Additionally, the company plans to expand its presence beyond northern India, with three new facilities slated for the southern region, according to Sharma.
"We are entering the IT and hardware sector," he stated in the interview. "This may involve partnerships with entities already holding Production-Linked Incentives (PLIs). We aim to establish collaborations with them to enter the market and compete with major industry players."
Zetwerk already manufactures wearables and hearables and has recently diversified into televisions. It is now progressing into the IT hardware domain, with a focus on laptop production. However, Zetwerk primarily operates as a contract manufacturer for other brands and does not intend to market products under its own name.
Sharma also announced, "We are launching our foray into the electric vehicle sector. Our focus will be on components, primarily in the electronics domain. This includes the battery management system (BMS), motor controller, vehicle control unit (VCU), and battery packs."
Zetwerk is currently engaged in discussions with potential customers for component manufacturing partnerships and is exploring the establishment of a manufacturing plant in the western part of the country.
Sharma expressed optimism about the growth of the consumer electronics division, projecting a seven-fold increase in revenue compared to the previous year. He also envisions Zetwerk becoming one of the top five electronics manufacturing services (EMS) players in the country in terms of revenue, with hopes of doubling or tripling this figure in the coming financial year.
Zetwerk's existing facilities have the capacity to manufacture approximately 20 million wearable and hearable devices annually, with three plants dedicated to these products in Noida. The company can also produce nearly 2 million televisions in Gurgaon.
Sharma revealed, "We are in the process of setting up a facility for electric vehicle and battery pack manufacturing, capable of producing over 20,000 battery packs per month in the western part of the country. Furthermore, in the IT hardware sector, we are investing in the infrastructure to manufacture more than 100,000 laptops per month, with the facility expected to be operational within the current year."
Lastly, Sharma mentioned that Zetwerk is planning to establish factories in three locations in southern India to cater to the needs of IT hardware and consumer electronics customers, with the goal of having them operational by October of this year.
Source: ET Auto
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