"Starlit has signed a joint venture with China's second largest motorcycle and UPS battery manufacturing company Guangdong Dynavolt Technologies, wherein the latter will acquire 24 per cent of equity in SPS by an infusion of RMB 5 million (around Rs 5.13 crore)," a statement issued here stated.
The JV marks the first Chinese investment in the secondary power sector in an Indian manufacturing company, it said.
He said such a liaison will create more opportunities both for India and for other countries. Chinese and Indian companies are pooling in their might of respective local knowledge and technologies to open the door for markets both here and abroad in future.
"We will share the responsibilities and the management. Going forward, it opens doors for bigger projects and greater co-operation," he said.
"With good manufacturing facility at Starlit and access to technologies and markets with Dynavolt, we can produce the VRLA batteries which are in huge demand both in India and overseas," Dynavolt Chairman Chen Le Wu said.