Pavna Industries Limited has inked an agreement with OLA Electric to supply ignition switches and latches. This contract further consolidates the company's foray into the two-wheeler electric vehicle segment. Under this agreement, Pavna Industries commits to providing high-quality ignition switches and latches to OLA Electric across its manufacturing plants in India.

It has been playing an instrumental role in driving EV adoption and penetration in India. In line with the government's efforts to promote sustainable mobility, India has introduced the Electric Mobility Promotion Scheme 2024 (EMPS 2024). Offering substantial support and financial incentives to facilitate the adoption of electric vehicles, with an initial focus on approximately 333,000 two-wheelers.

Building on the momentum of India's push towards net zero emissions, Pavna Industries will be expanding its product range to include more offerings in the electric vehicle (EV) segment and launch products such as motors and motor controllers recognizing the immense potential and market demand in this sector. This agreement highlights Pavna's dedication to meeting the demands of the modern automotive industry while further solidifying its position as a leading Indian automotive parts manufacturer.