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Zetwerk unveils Rs 1000 cr investment plan to expand consumer electronics manufacturing
Industry News- Oct 18,23
The company aims to focus on various aspects of EV technology, including battery management systems, battery packs, power drainage solutions, and associated electronic components.
Zetwerk, a unicorn in the manufacturing sector, has unveiled ambitious plans to invest Rs 1000 crores in bolstering its consumer electronics manufacturing initiatives. According to Rahul Sharma, Co-founder of Zetwerk, the company intends to diversify its portfolio by venturing into new categories and extending its manufacturing presence beyond the northern region. Sharma revealed that Zetwerk is actively seeking collaborations with the government to facilitate these expansions.
In a strategic move toward future growth, Zetwerk is gearing up to enter the burgeoning electric vehicle (EV) and IT hardware sectors. Specifically, the company aims to focus on various aspects of EV technology, including battery management systems, battery packs, power drainage solutions, and associated electronic components. Sharma expressed confidence in the potential of the nascent EV industry and emphasised Zetwerk's commitment to shaping its trajectory in the coming years. Simultaneously, the company is engaged in discussions with international clients in the IT hardware sector to establish efficient supply chains tailored to their needs.
Within the current fiscal year, Zetwerk plans to commence laptop production, with active deliberations underway regarding the selection of factories, systems, and pilot runs. Sharma highlighted the company's ongoing negotiations with global brands interested in rapid scalability and agile supply chains, qualities that Zetwerk promises to deliver.
Zetwerk initially ventured into electronics manufacturing through hearables and wearables. Over time, its product range has expanded to include a diverse array of items such as True Wireless Stereo (TWS) devices, Bluetooth neckbands, speakers, and smartwatches. Notably, the company operates as an Original Design Manufacturer (ODM), bringing its unique products directly to consumers. Zetwerk currently boasts a production capacity of one million devices per month. The company has also made significant strides in the television manufacturing segment, serving six to seven prominent brands.
Looking ahead, Zetwerk is actively pursuing partnerships with the government to access real estate and leverage government-sponsored labor training and hiring programs. Additionally, the company aims to broaden its manufacturing footprint, extending operations to both southern and western regions. This strategic move will enhance Zetwerk's and its customers' flexibility in sourcing components and finished products according to their preferences and requirements, as articulated by Sharma.
Source: Business Line
Zetwerk
Rahul Sharma
electric vehicle
IT hardware sectors
EV technology
Original Design Manufacturer
True Wireless Stereo
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