BHEL in talks to form JV with US-firm for manufacturing lithium-ion batteries in India: Geete

The government is making efforts to manufacture lithium-ion batteries in India in the next one year, and talks are on between state-run BHEL and a US firm to form a joint venture in this regard, Union Minister Anant Geete said Friday.

"Right now we are importing 100 per cent lithium-ion batteries, but efforts are on towards manufacturing them in India within the next one year," Geete said, adding that talks are on between BHEL and an American firm to form a joint venture for domestic manufacturing of lithium-ion batteries.

BHEL comes under the administrative control of ministries of heavy industries.

The minister also unveiled electric auto, 'KYTO', manufactured by ETO Motors in joint venture with Hong Kong-based Kyto Green Technologies.

Grayson Richards, managing director of Kyto Green Technologies, said the company plans to invest USD 10 million in India over the next two years and will make the country a hub for exporting to other nations.

Lithium-ion batteries, a key component used in electric vehicles, are mostly imported from China at present.