According to reports, Luminous Power Technologies will commission an inverter battery manufacturing unit in Hosur next month.
It will start with an initial production capacity of about 2 lakh units a year. In the next couple of years, it will triple its output. The company’s present output is “in excess of 10 times the Hosur plant’s initial capacity,” said Manish Pant, Managing Director.
The company will invest over Rs 50 crore in the 2.5 hectare factory at Hosur, which is its eighth production unit.
The others are in Himachal Pradesh and Pune.
Luminous, which makes a range of electrical appliances for homes and inverters, including for solar power application, and batteries under the Luminous brand, will concentrate on the fast-growing southern markets, Pant said.
The southern markets account for about 20 per cent of the market for inverters, estimated at Rs 2,000 crore a year.