Pavna Industries Shares Rise After Inking Deal with Ola Electric for Auto Parts

After announcing the deal with OLA Electric, Pavna Industries Ltd witnessed a 4.99% surge in its shares

Pavna Industries Limited, a top automotive parts maker, announced a deal with EV firm OLA Electric. Under the agreement, Pavna Industries will deliver premium auto parts, including ignition switches and latches, to OLA Electric’s Indian plants. 

Moreover, the auto part maker stated that the components will come from its Aligarh manufacturing unit in Uttar Pradesh. Interestingly, after announcing the agreement with OLA Electric, the company witnessed a 4.99% surge in its shares.

Pavna Industries will deliver premium auto parts to OLA Electric's Indian plants. (Source: Ola Electric)
Bharat Mobility Global Expo 2024 (Source: Ola Electric)

OLA Electric, a major player in the EV industry, strives to drive the adoption of sustainable transportation solutions. Additionally, the collaboration aligns with India’s Electric Mobility Promotion Scheme 2024, aiming to encourage EV adoption via incentives and aid.

Swapnil Jain, Pavna Industries’ MD, said that the partnership would promote affordability and improve quality standards in the EV industry. With increasing market demand, the company aims to diversify its EV product range by introducing motors and motor controllers. Moreover, this agreement highlights company’s commitment to innovation and quality with green mobility promotion.

Pavna Industries Managing Director, Swapnil Jain (Source: Pavna Group)
Pavna Industries Managing Director, Swapnil Jain (Source: Pavna Group)

About Pavna Industries Limited

The company primarily focuses on manufacturing automotive components and offering solutions for vehicle applications, serving OEMs and aftermarket sectors. 

Not just that, Pavna is a respected name in the automotive industry. Moreover, it has well-known clients, including Force Motors, Atul Auto, JBM Group, and Ashok Leyland. 

The company has nine plants spread across three locations in India. Additionally, Pavna Industries contributes to India’s auto manufacturing prominence by exporting its products to multiple nations, expanding its global presence.

(Source: Ola Electric)

Wrapping Up

Pavna Industries’ partnership with OLA Electric shows its dedication to innovation and support for India’s transition to sustainable transportation.

Pavna Industries, through innovative tech and strategic collaborations, aims to influence the future of electric mobility in India and globally.