Sharda Motor Industries forms JV with Kinetic Green Energy & Power Solutions

For design, development and assembly of lithium battery packs with battery management system for EVs

Sharda Motor Industries and Kinetic GreenEnergy & Power Solutions, a Kinetic Group company, have entered a joint venture (JV) agreement, to develop Battery Packs with Battery Management Systems (BMS) for electric Vehicles & stationery applications.

The JV company will undertake design, development & assembly of lithium]ion battery packs along with BMS. The focus of the company will be to develop battery packs for the rapidly growing electric vehicle market in India & other segments of energy storage applications.

The company has inked a technical collaboration with Indian Institute of Technology, Madras, Indiafs premier academic and research institution in India for the same. Under the technical collaboration agreement, Centre for Battery Engineering and Electric Vehicle (CBEEV), the research and development centre of IIT Madras, will provide technology for Li] ion battery energy storage for electric 2 wheelers, 3 wheelers and other small electric vehicles to the JV. The technology developed at IIT Madras includes advanced thermal design to overcome adverse temperatures in India, mechanical designs to overcome vibrations due to varying road conditions, as well as Battery Management System designed by CBEEV IITM keeping in mind Indian road conditions.

The JV, where Sharda Motor will hold majority of the equity, will set up a state]of]the]art manufacturing facility in Pune and is expected to be operational by Q3 of FY 22.

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