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Magenta Power invests in Hyderabad-based EV chargers and components maker Axiom Energy

With the investment, Magenta plans to gain a foothold in the greenfield manufacturing setup for EV components including chargers, converters, engine control units and powertrain components.


Axiom is a 25 year old company based in Hyderabad that manufactures battery chargers and DC converters

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Axiom is a 25 year old company based in Hyderabad that manufactures battery chargers and DC converters

EV charging solutions company Magenta Power has announced an investment in Axiom Energy Conversion Limited, one of India’s oldest EV component manufacturers. The 25-year-old Hyderabad-based company makes battery chargers and DC converters. It is also the best-selling EV charger brand in the electric trailer segment with a current production capacity of 650,000 units per year. Axiom also supplies EV chargers to a number of OEMs and retailers. Magneta did not share the financing of the investment.

Also read: Magenta Invests 250 Crore in Tamil Nadu to set up an electric vehicle factory

Speaking about its investments in Axiom, M.D. of Magenta Maxson Lewis said, “We were amazed at the depth of knowledge and manufacturability in AC-DC conversion that Axiom has developed. Only recently, our joint discussion turned into an investment and Magenta believed in building an end-to-end platform solution for EV Charging and this new state-of-the-art facility will make a significant contribution to furthering Magenta’s move towards zero-emission electric mobility.We are delighted to be supported by Axiom, who are passionate about bringing change towards mobility. clean. “

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Axiom Energy is a 25 year old company specializing in the production of battery chargers and DC converters

With the investment, Magenta plans to gain a foothold in the greenfield manufacturing setup for EV components including chargers, converters, engine control units and powertrain components. The company’s majority stake in Axiom allows it to have a large in-house manufacturing facility for its EV equipment, the company said in a statement. This partnership makes Magenta Axiom an integrated charging solution company that ranges from charger manufacturing to charging technology. charge as a service and last mile electric delivery. Magenta also announced plans for future expansion including the rollout of integrated EV solutions across the country.

Also read: Magenta ChargeGrid sets up 6 charging centers for electric CV

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Speaking about the investment, MJ Purohit, MD – Axiom said, “Axiom is committed to developing new and powerful EV components and charging solutions. Our EV components are designed to be simple, small and compact. compact and reliable while adopting the latest technology We intend to become the largest independent component supplier for Chargers, DC-DC converters and motor drives in the country and With the Magenta affiliation, we are well positioned to capture this growing market space.We have put together a strong EV components portfolio and are working to develop solutions. This new and affordable smart electric vehicle solution.”

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https://www.carandbike.com/news/magenta-power-invests-into-hyderabad-based-ev-charger-component-manufacturer-axiom-energy-2642932 Magenta Power invests in Hyderabad-based EV chargers and components maker Axiom Energy

Sarah Ridley

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