Magenta to invest Rs 2.50 billion for setting up manufacturing unit in Tamil Nadu

Magenta, an integrated clean energy and electric mobility solutions provider, has signed an MoU with the Tamil Nadu government to invest around Rs 2.5 billion in building electric vehicles charging infrastructure in the state.  

The company plans to set up a manufacturing unit focussing on design, product development and architecture standards for electric vehicles technologies in the e-mobility space.  The investment will be mainly for research and development, manufacturing cutting-edge technologies and more choices in the e-mobility segment.