IIT Madras Startup to Manufacture EV Chargers With ₹100 Crore Tamil Nadu Govt. Deal
IIT Madras-incubated firm Plugzmart will invest ₹100 crore to expand EV charger manufacturing and R&D in Tamil Nadu. The deal, signed at an investment conclave, is expected to create 500 jobs.
Key takeaways
- IIT Madras-incubated firm Plugzmart signed an MoU with the Tamil Nadu government.
- The agreement involves a ₹100 crore investment to expand EV charger manufacturing and R&D.
- The deal is expected to generate 500 jobs in various engineering and manufacturing roles.
- Production expansion will occur at a plant in the Oragadam industrial hub.
- The company designs and produces a range of EV charging hardware.
Plugzmart, a company incubated at IIT Madras Research Park, has entered into a Memorandum of Understanding with the Tamil Nadu government. The agreement commits ₹100 crore towards enhancing the company's manufacturing capabilities, research and development, and its ecosystem for electric vehicle (EV) charging.
The MoU was formalized on Thursday, August 13, 2026, during the Vettri Tamil Nadu Investment Conclave. Chief Minister C. Joseph Vijay attended the signing ceremony. This investment is projected to create approximately 500 employment opportunities within three years, spanning fields such as hardware engineering, power electronics, embedded software, and advanced manufacturing.
The capital will reportedly support a significant increase in production at a manufacturing facility situated in the Oragadam industrial area. Plugzmart's objective is to develop robust and scalable EV charging solutions catering to original equipment manufacturers, fleet operators, charge-point operators, and public infrastructure initiatives. The company's product line includes controller units, power line communication modules, and AC/DC chargers ranging from 3.3kW to 360 kW.
Co-founders Vivek Samynathan and Ragavendra Ravichandran were present for the signing.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
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