CHENNAI : Fuji Electric Co on Thursday announced a target to reach Rs 1,500 crore by 2023. The company would focus on charging stations to cater to the electric vehicle segment and work with metro stations, pump manufacturers and other businesses.
The company said it would also focus on emerging applications like Energy Storage, megawatt scale solar power plants and smart city solutions and services.
Sriram Ramakrishnan, MD, Fuji Electric India, said the company would be able to double its current revenue of Rs 660 crore and focus on bringing the share of exports to 10% by 2023 from its current share of 2%-3%.
“Our markets are Sri Lanka, Africa, SE Asia and other ASEAN countries. This will help us achieve our target. We are looking at organic growth. We are also targeting an increase in the number of localised products and upping our R&D strengths,” he added.
Kenzo Sugai, executive vice-president, Fuji Electric said, “The FE India 2.0 plan involves integration of the FE business in India including Consul Neowatt, Fuji Electric India and Fuji Gemco to ensure all Fuji Electric customers in India have the same and consistent pre-sales & post sales experience. The targeted markets in India for FE products represent a market opportunity in excess of Rs 10,000 crore,” Sugai said.