Godrej Tooling invests in growing its electric vehicle portfolio

Godrej Tooling has created a range of advanced automotive dies, in line with the Indian government's idea of stricter emission norms and the push for electric vehicles. The company has increased its investment by 10% in growing its electric vehicle portfolio.

By:October 29, 2021 10:43 AM
godrej tooling invests in ev portfolio

Godrej & Boyce, part of the Godrej Group, has announced that its business, Godrej Tooling, has created a range of advanced automotive dies. This is in line with the Indian government’s idea of stricter emission norms and the push for electric vehicles. The move has necessitated the development of new engines, battery boxes and high precision sheet metal parts. 

In response to the same, Godrej Tooling has increased its investment by 10% year-on-year on Research and Development towards its portfolio of tools and dies with a focus on the EV industry. To meet the demand for modification and replacement of automobile components in the modern Electrical Vehicle, Godrej Tooling is developing advanced dies. 

The company has also increased its budget on R&D initiatives to grow its portfolio in this sector and reduce the dependency on imported parts. Godrej Tooling has increased its capabilities with the addition of 3D printing and additive manufacturing to develop high precision dies for components with complex geometry. The business already has 1 patent and 1 copyright in overall dies.

Pankaj Abhyankar, the Senior Vice President and Business Head at Godrej Tooling said, “The growing focus of the private and public sector on EVs have made it imperative for the automobile industry and particularly suppliers, to adapt to the ecosystem. As one of India’s leading tool rooms, we have adopted a robust approach allowing us to be agile to take on electric mobility covering all bases in stimulation, design assembly and production. Godrej Tooling has a longstanding reputation of being future-ready and the introduction of advanced automotive dies implies our readiness to remain ahead of curve.”

In the last decade, Godrej & Boyce has invested more than ₹500 crores towards its ESG initiatives. These initiatives are a part of the company’s Good and Green vision that is aligned to the UN’s Sustainable Developmental Goals and was launched by the organisation over a decade ago.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Express Mobility News