Plugzmart signs ₹100-crore MoU with Tamil Nadu to scale EV charger manufacturing
Chennai: Plugzmart, an electric vehicle (EV) charging technology company incubated at the IIT Madras Research Park, has signed a memorandum of understanding (MoU) with the Tamil Nadu government to invest ₹100 crore in expanding its manufacturing footprint, research and development, and charging infrastructure ecosystem. The agreement was formalised at the Vettri Tamil Nadu Investment Conclave 2026 on Thursday in the presence of Chief Minister C. Joseph Vijay.
The investment is projected to generate 500 jobs over the next three years in hardware engineering, power electronics, embedded software, and advanced manufacturing. The company plans to scale up production capacities at its manufacturing facility in Oragadam, an industrial hub near Chennai that hosts several major automobile and component manufacturers.
Plugzmart designs, develops, and manufactures end-to-end charging hardware, including indigenous controller units, power line communication modules, and AC/DC chargers ranging from 3.3 kW to 360 kW. Its product portfolio caters to original equipment manufacturers (OEMs), fleet operators, charge-point operators, and public infrastructure projects. The company's stated focus is on building scalable and reliable EV charging solutions that support India's growing electric mobility ecosystem.
Co-founder and Chief Executive Officer Vivek Samynathan and Co-founder and Chief Operating Officer Ragavendra Ravichandran were present at the signing. According to the company, the capital infusion will help strengthen domestic manufacturing of critical charging components, reducing dependence on imports and supporting the local supply chain.
The MoU comes amid Tamil Nadu's broader push to position itself as a hub for electric vehicles and related infrastructure. The state has introduced policies to attract investments in EV manufacturing, components, and charging networks. The Vettri Tamil Nadu Investment Conclave is part of this initiative, aimed at bringing in capital and technology partnerships across sectors.
Industry observers note that expanding charging infrastructure is essential for accelerating EV adoption in India. While the number of electric vehicles on roads has increased, the availability of reliable and widely distributed charging stations remains a constraint. Investments in local production of chargers and components are seen as critical to lowering costs and improving accessibility.
Plugzmart's proposed expansion is expected to strengthen the domestic ecosystem for EV charging equipment. Its products support diverse applications, from slow AC charging for homes and workplaces to high-power DC fast-charging for commercial fleets and public corridors. Detailed timelines for the project have not been disclosed, and the company has indicated that implementation will occur in phases.
The agreement underscores the growing role of technology startups incubated at institutions like IIT Madras in addressing infrastructure challenges related to electric mobility. With the investment, Plugzmart aims to contribute to the state's industrial growth while also advancing the adoption of cleaner transportation.
