Balan Engineering Private Limited is promoted by Mr.N. Balakrishnan, 27 years, with about 7 yrs of entrepreneurial experience, an Electrica Engineer and Mrs. Usha Nandaa Kumar an experienced entrepreneur who has successfully promoted a food processing msme unit in Bengaluru for 20years, employing more than 200 people.
The company will be engaged in manufacture, assembly and sale of various types of Electrical Vehicles.
The company has been licensed to set up a large manufacturing facility in Bagalkot District in Karnataka, with some incentives.
The investment is over Rs.50 crores in 2 steps to create a modern manufacturing plant for various types of EV under their own brand and also make for others.
Land of 25 acres is in possession. Land development activities are completed. Company is awaiting financial closure to start construction.
The capacity of the factory in the initial phase will be about 25,000 vehicles per annum of all types. The expanded capacity will be more than 50,000 vehicles.
Currently production is in Bengaluru. The capacity would be about 300-400 vehicles a month. The factory operations will shift to Bagalkot on completion of the factory in 6-9 months and the Bengaluru facility will be the city service center.
Already some major players are in discussion for a tie up of production in their names.
The promoters have a passion and deep conviction for doing vehicles in the rural space of the economy as it saves sizeable transport costs and leaves more money in their hands. They are good value for money. It is more relevant in the rural economy and in large civic corporations and institutions. The vehicles are durable and sturdy. The company, first in India offers 4yrs warranty on battery and motor controller.
The promoters believe that 1. Value for money and 2.durabity of the product will be two guiding principles.
The vehicles are 100pc Made in India. They are a resounding demonstration of Atmanirbar Bharat. The company has tied up with very good and reputable motor and lithium battery suppliers. The company’s products will inspire confidence in the minds of the users.
The company will to begin with focus mainly on the cargo, rural population transport, rural economy relevant vehicles and vehicles for use in agriculture, forests and natural resorts, civic amenities and inside large establishmentsand campus, senior citizens etc. The company will have products even for the lowest level of users in the daily life, like fruit and vegetable vendors in their daily work.
Some of the products will be very unique. They are very useful in the civic administration. The products will be export worthy. They have gone through practical full load trials in the road conditions prevalent in India.
Bagalkot is not so industrialized in Karnataka. The proposal received very good support from the Government of Karnataka. The factory in Bagalkot will generate 200 jobs in the full size directly and about 300more indirectly. The surrounding area will develop with individual workshops in plenty to support the large factory.
The location is also a tri-junction from Bengaluru, Hyderabad and Mumbai. The 6 states down from Maharashtra will be the focus.
The company is professionally run by a team and supervised by a board. Shri Kuljeet Singh Popli former CMD of IREDA is also on the board. The company has some very experienced advisors.
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