Optiemus Electronics partners with Wistron for making electronic products
OEL will invest Rs 13.5 billion in the next three to five years to increase its plants capacity. It intends to reach revenues of Rs 380 billion within the next three to five years in multiple product segments.
Optiemus Electronics Limited (OEL) has announced a strategic partnership with Taiwanese manufacturing giant, Wistron, for manufacturing electronics products in India. Both the companies were among the first to be approved for the Production Linked Incentive (PLI) scheme for mobile and electronics manufacturing in India.
A. Gururaj, Managing Director of OEL, said Wistron would use OEL’s plants in Noida to manufacture products.
Gururaj said Indian manufacturers do not get PLI benefits on phones priced above Rs 15,000 unlike, global companies like Wistron, Foxconn
and Pegatron. So, Wistron will pass on orders for such devices to OEL’s plants. The partnership between both the companies will help produce IT hardware products and automotive products for electric vehicles (EVs).
OEL will invest Rs 13.5 billion in the next three to five years to increase its plants capacity. The company’s plants which manufacture mobiles will now manufacture laptops
as well. OEL had earlier announced a collaboration with homegrown Noise to make wearables.
OEL intends to reach revenues of Rs 380 billion within the next three to five years in multiple product segments. The company also plans to increase its employee count to 11,000. The company is talking to customers in the wearables, mobiles and EV manufacturing space.
Source – Mint