Chinese Guangdong Dynavolt acquires stake in Starlit Power

By admin June 5, 2015 12:17 pm IST

 Starlit Power Systems Ltd has signed a joint venture (JV) with China’s second largest motorcycle and UPS battery manufacturing company Guangdong Dynavolt Technologies wherein, Guangdong Dynavolt will acquire 24 per cent of equity in Starlit Power Systems Ltd by an infusion of RMB 5 million.
 
Guangdong Dynavolt Ltd, a technology giant with over dozen subsidiaries in China, has a market capitalisation of Rs. 8,800 crores and is listed in the Shenzhen Stock Exchange.
 

Post the Prime Minister Narendra Modi’s visit to China and the emphasis on ‘Make in India’, the JV marks the first Chinese investment in the secondary power sector in an Indian manufacturing Company.
 
“The JV and the technology transfer will allow the next-gen batteries for motorcycles, e-bikes, Telecoms and UPS applications to be manufactured in India. It also opens doors for brining in packaged off-grid solar solutions to the Indian market,” Starlit Power says issuing a statement.