Mumbai-based energy efficiency and renewable energy services provider EPIC Energy Limited has inked a Joint Venture Agreement with Coimbatore-based Fenfeo Automation Private Limited - a leading provider of EV charging solutions in the country to establish an Electric Vehicle Charger manufacturing facility in Coimbatore with an installed capacity of 15,000 Chargers per annum.

Business Upturn quoted EPIC saying that a Joint Venture Company will be set up under the Agreement, with EPIC owning 76% of the Equity and Fenfeo owning 24% of the Equity. The JV Agreement also envisages expanding the initial installed capacity across multiple locations in India depending on the demands of the market.”