Fuji Electric India is looking at develop electric chargers for electric vehicles (EV) to be in a sweet spot when EV penetration picks up, said Sriram Ramakrishan, Managing Director of the company at an event held to unveil its India 2.0 plan to expand business operations in the country.
Fuji Electric is a 915 billion Yen energy and power electronics global major headquartered in Tokyo, Japan that is looking to make its India revenues double to reach Rs 1,500 crores by 2023. India currently contributes a little over 1% of the parent company’s global revenues.
“India is a very competitive market and if we can design products that work well in India, we can look at tapping similar competitive markets,” said Sriram. “In India, we are looking to develop electric chargers that can be used for buses as we feel that if there is a push for EV buses, there will be a requirement for charging stations at bus depots. we are focusing on R&D for such high powered chargers that could also be used for four-wheelers.”
This will see India becoming a hub for products that will also be sold in markets like Africa and Middle East that have a similar challenging site and power conditions, he said.
“Fuji Electric is well set in India to address emerging applications coming up like Energy Storage, EV Charging, MW scale solar power plants, Smart city cutting edge products, solutions and services with an overriding focus on energy efficiency and environment conscious technology,” a statement from the company read.
As part of its plan, the company will use local R&D capabilities to develop products that are priced competitively and designed to perform in demanding sites and power conditions. Further the company will look to expand its local manufacturing capabilities for faster introduction of products in the market with establishment and localisation of the entire process of production and supply in India—from product development to material procurement, manufacturing, and quality assurance—of AC Drives, UPSs and other components.
FE will expand its power electronics systems business in India, targeting mainly the manufacturing industries, core heavy industries, buildings, infrastructure and data centre market. With the recent acquisition of Consul Neowatt Power Solutions Pvt Ltd, Fuji Electric has a strong presence across India with almost 1,000 employees, four manufacturing plants and a pan-India sales network operating out of 25 offices with ability to provide support services in over 80 locations through 400 factory trained service engineers.
Power backup is another area that the company will look to tap into, be it for surveillance or in police control rooms or smart traffic lights. Further Smart Cities, too provide a large window of opportunity too with a number of promising projects like metro rail and so on.