Motive Link Signs Investment MOU with Tamil Nadu, India... Accelerates Establishment of Electrification Component Production Base

Motive Link, a company specializing in core components for eco-friendly mobility, has signed a new investment memorandum of understanding (MOU) with the Indian state of Tamil Nadu and will expand its local production base.

On July 14, Motive Link announced that it had entered into a new investment agreement with the state of Tamil Nadu, India. The project will proceed in a dual structure: an independent corporate investment by Motive Link and a joint venture (DNM AUTO) investment established with Dongyang ENP. Motive Link is set to lead the initial investment and business operations.

The company is targeting the rapidly growing Indian market for electrification components by securing a site near major client companies and is coordinating detailed schedules. The planned investment covers a total of 37,800 pyeong (30 acres), comprising 9,700 pyeong for the independent corporate site and 28,100 pyeong for the joint venture dedicated to module production.

Through this investment, Motive Link aims to build a vertically integrated production system encompassing everything from power conversion component production to module manufacturing, thereby enhancing production efficiency and supply competitiveness.

The two companies are aligning on a joint investment plan for the next five years, with the goal of completing the plant by November 2027. To that end, they have launched a joint task force (TFT) combining Motive Link's electrification component technology with Dongyang ENP's power converter production expertise, and plan to flexibly adjust the investment schedule according to client acquisition progress.

The Tamil Nadu state government has also committed to actively supporting the project. The government will facilitate regulatory approvals in line with major clients' production schedules and will also cooperate on providing a range of incentives to nurture the power conversion components and module industries, which are vital to the electric vehicle cluster.

In addition to the electrification components business, the two companies will also work together to enter the Indian power industry. Leveraging the solar power solutions held by both Motive Link and Dongyang ENP, they intend to establish a local production system and expand related business opportunities.

Ki Han Kim, CEO of Motive Link, stated, "This investment agreement with the state of Tamil Nadu is a significant milestone for building a vertically integrated production system in India, based on our collaboration with Dongyang ENP. With strong government support for regulatory approvals and incentives, we aim to complete the plant by November 2027 and make tangible progress in entering the power industry using our solar solutions, thus securing future growth drivers."

Motive Link plans to strengthen its competitiveness in electrification components and power conversion businesses through the establishment of the Indian production base and expansion of local partnerships, accelerating its penetration of the global eco-friendly mobility market.

This content was produced with the assistance of AI translation services.