Bhago Mobility Solutions, the green energy vertical of automotive parts manufacturer Modern Automotive, will invest $16 million in a partnership with Pastiche. They plan to jointly develop solid-state and lithium-ion batteries for electric mobility and energy storage.
Although we may have just about commenced our run in the electric vehicle (EV) race, it is critical that we jump-start the pace of adoption by enhancing the overall perception of EVs from a safety and longevity standpoint.
The two nations together supply 96% of India’s lithium-ion cell and battery imports and almost 70% of non-rechargeable lithium products.
The lead-acid battery major will use SVOLT’s technology to manufacture lithium-ion cells in India. It will produce cells across two popular chemistries and three formats out of its proposed multi-gigawatt fab.
The annual demand for lithium-ion batteries in India will reach 116 GWh in FY 2029-30, with electric vehicles (EVs) accounting for 90%.
The production-linked incentives scheme for advance-chemistry battery cell manufacturing received an encouraging response with bids received for 2.6 times the 50 GWh manufacturing capacity to be awarded.
The Mukesh Ambani-led diversified business conglomerate has agreed to invest INR 5 lakh crore (US$67.6 billion) in building 100 GW of renewable energy capacity and green hydrogen eco-system in the State. It will also invest INR 60,000 crore (US$8.1 billion) in setting up manufacturing facilities for new and renewable energy equipment including solar modules, electrolyzers, energy-storage batteries, and fuel cells.
The proposed lithium refinery, set up at a cost of INR 2,200 crore (US$296 million), will produce lithium hydroxide—a key component used in the production of cathode materials for lithium-ion batteries.
The lead-acid battery major, which is into lithium battery assembly in a joint venture with Swiss firm Leclanche, will set up a multi-gigawatt lithium-ion cell manufacturing plant as it strives to become more cost-competitive and better serve its customers.