EM&I Signs MOU with Government of Karnataka, India

EM&I announced on the 2nd that it has signed a Memorandum of Understanding (MOU) with the government of Karnataka state in India to support entry into the Indian battery market.

The agreement was made through an investment briefing session held during the visit of the Karnataka state delegation to Korea at the Lotte Hotel in Sogong-dong. The event was organized by the Embassy of India in Korea and the Indian Chamber of Commerce in Korea (ICCK). Attendees included M.B. Patil, Karnataka State Minister of Industry, along with deputy ministers and heads of investment agencies.

EM&I is promoting battery supply in the southern region of India as a distributor partner of a domestic company L in India. The business is expected to accelerate with this agreement.

A company representative stated, "Karnataka, located in the heart of southern India, is home to key central government engineering institutions such as the Bharat Electronics Limited (BEL) and the Defence Research and Development Organisation (DRDO), making it one of India’s major markets alongside Delhi and Mumbai. Major domestic IT companies have also established research centers in Karnataka to enter the local market."

He added, "We will use this agreement as a stepping stone to successfully enter the Indian battery market and grow into a global company."