This new product will compete against famous water heater brands such as AO Smith, Bajaj, Racold etc.
“At present the product is set to launch only in the domestic market,” said the company.
Finolex Group is a private sector conglomerate based in Pune, comprising Finolex Cables Ltd., Finolex Industries Ltd., Finolex J-Power Systems Ltd. and Finolex Plasson Industries Ltd.
It has recently started diversifying into related markets such as electric fans, switches and lights.
The company was founded in 1945 by brothers P.P Chhabria and K.P Chhabria.