Energy storage co Livguard to invest ₹100 crore for lithium-ion battery unit

Livguard Energy Technologies is on an expansion mode and plans to invest up to ₹100 crore on capacity addition.

It is also in the process of finalising plans for a lithium-ion battery facility.

“We are functioning at near 90 per cent capacity and expect the capacity to be fully utilised by early next year, necessitating expansion of manufacturing. We are in advanced stage of discussions and the expansion could see an outlay of about ₹100 crore,” said Gurpreet Bhatia, Chief Executive Officer of Livguard Energy Technologies.

Expansion plans

“As a company that focuses on batteries, solar units and home energy solutions, we have been growing at a compounded annual growth rate of about 60 per cent. We closed last year with a total turnover of ₹1,400 crore and are looking at a turnover of ₹2,500 crore this fiscal,” he said.