Livguard to invest Rs 100 crore for lithium-ion battery unit

Energy storage firm Livguard Energy Technologies is planning to invest up to Rs 100 crore on capacity addition.

Gurpreet Bhatia, Chief Executive Officer of Livguard Energy Technologies, said, “We are functioning at near 90 per cent capacity and expect the capacity to be fully utilised by early next year, necessitating expansion of manufacturing.”

He added: “We are in advanced stage of discussions and the expansion could see an outlay of about Rs 100 crore. As a company that focuses on batteries, solar units and home energy solutions, we have been growing at a compounded annual growth rate of about 60 per cent.”

Speaking to BusinessLine, he said they closed last year with a total turnover of Rs 1,400 crore and are looking at a turnover of Rs 2,500 crore this financial year.

Image Credit : www.livguard.com

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