Meritor gearing up to enter the electric vehicle market by end of 2019: Report

Automobile component maker Meritor Inc is reportedly gearing up to enter the electric vehicle market by end of 2019 rolling out electric axles in India.

The Indian arm of US-based company speaking to ET said prototypes of the newly developed e-axle are already running in the US, UK and China, where the market for electric mobility is comparatively mature.

Thimmaiah Napanda, Managing Director & CEO – Meritor India speaking to the publication said “Although the concept of electrified commercial trucks has not gained much traction in India yet, but we are quite sure that it will come from mid to long term. We wanted to grab this opportunity from the beginning thus, planning to bring few ready e-axles in India in the next four months. Manufacturing of these axles will be done at our existing plants.”

The company recently invested USD 36.5 million to expand its axle assembly facility , with this expansion the overall capacity of both conventional axles and brakes in India has gone up by 25 per cent.

Currently the Meritor India has four manufacturing facilities in Mysore, Jamshedpur, Hosur and Pantnagar, as well as engineering centers in Bengaluru and Mysore.

Meritor India has also acquired a site at an undisclosed price in Pithampur Industrial area for another production facility to further expand the the manufacturing of its new and existing products. At present the expanded Mysore facility is sufficient to meet demand for a couple of years, he said adding that the company will start operation at Pithampur plant once the slump in truck sales will be over.

Napanda further said “Currently, we are waiting for the market and the economy to bounce back and then only we will start the work in Pithampur plant.”