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The management expects the company continue to benefit from its diversified product and customer mix. For the Q2 of the current financial year, two-wheeler industry has registered production volume of 5.6 million units. The management expects a strong second half driven by the festive season and pick-up in rural demand.
Meanwhile, Fiem Industries has entered into partnership and signed one MoU with Gogoro India to expand its product portfolio in the Electric-2W segment. Gogoro India is a group company of Gogoro Taiwan which is Taiwan’s leading Electric2W manufacturer and regarded as world leader in battery swapping technology.
Gogoro will provide the technical know-how and other support in setting-up the manufacturing facility as well as production, quality, and testing support for the new product line. This partnership will open up a new electronics segment for Fiem, which can provide significant growth and new opportunities in EV segment, the company said in its FY23 annual report.
First Published: Jan 08 2024 | 10:00 AM IST