Companies

German firm Magnum Pirex to set up e-vehicles unit

M Somasekhar Hyderabad | Updated on January 09, 2018

Intends to invest up to ₹200 crore in the proposed plant

Magnum Pirex, an e-mobility and fuel cells major from Germany, is firming up plans to establish a manufacturing plant in India. It produces Mia-family car; C-Zen ( 2-seater fun car); Metro-delivery truck and Magnum Courb, a sports car.

The Andhra Pradesh Government has given an ‘in-principle’ okay for setting up a manufacturing unit around Visakhapatnam. The CEO and President of the Darmstadt, Germany-based company, Hubert Maencher met Chief Minister, N Chandrababu Naidu recently and made a detailed presentation.

Project report

The company has sought 30 acres in the port city of Visakhapatnam. The CM has asked Magnum to present a detailed project report. The State had also organised a meeting of automotive companies involved in the emerging electric vehicles segment.

The German firm intends to invest up to ₹200 crore in the proposed manufacturing-cum-assembly line with an initial capacity of 12,000 cars per annum.

The plan is to make battery-powered low-segment cars, low price and niche models not in comparison with the big players, according to sources.

Better access

The port city location gives access to imports of battery and other components for the German firm as well as exports in the long run.

For AP, it will be another boost, especially in the automotive sector where Kia Motors and Isuzu have come in a big way. It has also signed an MoU with Toyota Kirloskar Motors to introduce electric vehicles at Amaravati.

The German team explained to the State government its interest in manufacturing its latest Magnum Courb Sports car, one-ton payload utility vehicle — Metro and fit them with sliding doors for safe access.

All the cars will have a mileage of 125 km for a full charge and extensive upgraded mileage of 625 km with the fuel cell range extender.

This is possible because Magnum has a technology for fuel cell based plug-in range extender to make this possible. It is in talks with the Indian Oil Corporation to use the existing fuel stations for charging.

Published on December 26, 2017

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