IIT Madras-incubated startup signs ₹100-crore deal with T.N. govt. to scale up EV charger manufacturing

Plugzmart, an EV charging technology company incubated at the IIT Madras Research Park, signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest ₹100 crore to expand its manufacturing footprint, R&D capabilities, and charging infrastructure ecosystem.The MoU was signed at the Vettri Tamil Nadu Investment Conclave 2026 on Thursday (August 13, 2026) in the presence of Chief Minister C. Joseph Vijay. This is likely to generate 500 jobs in hardware engineering, power electronics, embedded software, and advanced manufacturing in the next three years. The capital infusion is likely to significantly scale production capacities at a manufacturing plant located in the industrial hub of Oragadam.The company’s focus was to build scalable and reliable EV charging solutions t