Companies

LivFast plans lithium ion battery assembly, expands inverter range

V Rishi Kumar Hyderabad | Updated on January 12, 2019 Published on January 11, 2019

Aims to double turnover this year, talks of expansion

LivFast Batteries, a leading power back-up solutions provider and part of the SAR Group, is set to double its turnover this fiscal to ₹2,000 crore, up from ₹1,000 crore it logged during 2017-18.

The company, while launching a new range of inverters with fast charging and extra battery back up of 25 per cent, has outlined plans for further expansion of its manufacturing capacity. Gurpreet Singh Bhatia, Chief Executive Officer of LiveFast Batteries said, “We have commissioned a ₹250 crore manufacturing facility in Baddi in October last year, which has significantly enhanced manufacturing capacity, also enabling us to offer new products. However, we are also exploring opportunities to further expand, which will necessitate setting up another plant.”

Speaking on the sidelines of the launch of a new range of inverters in the market, the CEO said that the company, which has manufacturing lines for automotive batteries, two-wheelers and electric rickshaws, is entering lithium ion battery assembly and has begun to work on a pilot project.

“The new plant commissioned last year has added capacity of 1.8 million inverter batteries. This will enable us to garner a bigger share of the pie in the inverter and back up power market in the country,” he said. The growing demand for home and commercial solar back up solutions, Bhatia said, “will become a major opportunity for battery manufacturers. Even though most States have 24/7 power supplies, people do not want even a minute of power interruption. This has boosted the inverter market.”

Bhatia said they charge 25 per cent faster and in low voltage ( 90V). With the new plant and capacity to make 1.5 lakh batteries a month, and a well spread out pan-India network, LivFast is seeking to penetrate new markets and offer innovative solutions to consumers.

Bhatia said, “With brand ambassador MS Dhoni, we are seeking to communicate the message about durable, high performing and modern inverters which provide solutions to consumer needs and challenges.”

Published on January 11, 2019
This article is closed for comments.
Please Email the Editor