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Indian Oil Corp, Israel's Phinergy sign JV to produce metal-air batteries

The IOC and Phinergy will set up a join venture in India to manufacture Al-Air batteries and to facilitate development of supporting infrastructure.

Indian Oil Corp | israel

Reuters  |  New Delhi 

Indian Oil Corp, the country's top refiner, has bought a minority stake in Israel's Phinergy and signed a joint venture deal to produce metal-air batteries, an alternative to more mainstream lithium technology. IOC Chairman Sanjiv Singh said the IOC could use its vast retail network to supply the automotive sector in India, where the government is pushing for a shift to electric vehicles to cut pollution and lower the country's fuel import bill. "We are confident that this Al-Air battery technology would complement lithium-ion batteries to provide a hybrid solution ...

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First Published: Tue, February 04 2020. 20:29 IST