Companies

KSL Cleantech forms JV with China’s Huaihai

Our Bureau New Delhi | Updated on July 31, 2019 Published on July 31, 2019

Kolkata-based KSL Cleantech Ltd (formerly Kirti Solar Ltd), a company engaged in renewable energy and electric vehicles, said on Wednesday it has entered into a 50:50 joint venture with Chinese firm Huaihai Holding Group.

The JV will invest ₹200 crore over the next three years on manufacturing and development EVs in India.

The company will also launch other cleantech products such as air purifiers and water purifiers, a top official said, adding it is targeting a turnover of ₹500 crore over the next four-five years.

The JV company, Huaihai KSL, will set up manufacturing facilities in India, which will also cater to export markets.

Published on July 31, 2019
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