Pavna Industries, Taiwan’s SMC Form JV to Accelerate EV Tech in India

Uttar Pradesh-based Pavna Industries has entered into a joint venture with Taiwan’s SmartChip Microelectronic Corporation (SMC) to strengthen electric vehicle (EV) technology in India and tap into new high-growth markets.

Under the agreement, Pavna Industries will hold an 80% equity stake, while SMC will own 20%. Pavna will leverage its operational, manufacturing, and procurement expertise, along with its deep understanding of the Indian automotive sector, to oversee and manage the joint venture’s operations.

The partnership aims to combine Pavna’s strong domestic presence with SMC’s advanced technology capabilities, enabling the development of innovative EV solutions and fostering growth in the rapidly expanding Indian EV ecosystem.