Zetwerk To Produce IT Hardware, EV Components in New Foray By CIOTechOutlook Team

Zetwerk To Produce IT Hardware, EV Components in New Foray

CIOTechOutlook Team | Monday, 11 September 2023, 06:28 IST

Rahul Sharma, the co-founder of manufacturing services company Zetwerk, is preparing to enter the market for IT hardware by producing laptops and preparing to produce parts for manufacturers of electric vehicle (EV) manufacturers. In the next three years, Zetwerk, which achieved unicorn status in 2021, plans to invest more than Rs 1,000 crore in its consumer electronics division and expand its presence outside of north India by building three new facilities there, according to Sharma.

"We are entering IT and hardware," he added. "That might be through parties who already have PLIs. We will go into some kind of tie ups with them so that we can enter the space and be competitive with the biggest players in the market."

Already, Zetwerk produces wearables and hearables. In the realm of IT hardware, it recently began with televisions and is currently transitioning to laptops. The business does not intend to market under its own name; instead, it serves as a contract manufacturer for other companies.

"We are also launching our foray into electric vehicles," said Sharma. "We will not be making EVs but will be focused on the component side, majorly in the electronics space. This would mean working on the battery management system (BMS), the motor controller, the vehicle control unit (VCU) as well as battery packs."

Sharma stated that Zetwerk is in discussions with clients to begin producing components for them and is also planning to establish a plant in the country's western region.

Sharma stated that he anticipates the consumer electronics division's income to increase this year by a factor of seven in comparison to last year. In terms of revenue, he predicted Zetwerk would rank among the top five EMS providers in the nation, and he hoped to increase that revenue by two to three times in the upcoming fiscal year.