Page 5 - Battery Makers

Dry cell battery maker Eveready Industries defers new category entry

Saha indicated that the RTM should be amenable to take on other categories

Exide Industries Q4 results: PAT up 37% to Rs 284 cr; sales at Rs 4,009 cr

Battery maker Exide Industries on Tuesday said its profit after tax rose 37 per cent to Rs 284 crore for the fourth quarter ended March 31, 2024. The company had reported a profit after tax (PAT) of Rs 208 crore in January-March period of FY23. Revenue from operations rose to Rs 4,009 crore in the period under review from Rs 3,543 crore a year ago. For the year ended March 31, 2024, the company posted a PAT of Rs 1,053 crore as compared with Rs 904 crore in 2022-23. Revenue from operations rose to Rs 16,029 crore as against Rs 14,592 crore in FY23. The company said its board has proposed a final dividend of Rs 2 per share for 2023-24. "Demand scenario was upbeat, and our diversified and technologically advanced product offerings helped us capture the opportunities across end customer markets," Exide Industries MD & CEO Subir Chakraborty said. Outlook is positive both for the automotive and industrial verticals and the company aims to deliver healthy sales growth and increase in

Reliance Industries, JSW Neo Energy in fray for 10 Gwh ACC Battery PLI

Ministry of heavy industries has received seven bids for re-auction

Hyundai, Kia tie up with Exide for electric vehicle battery localisation

The two auto majors plan to focus on the production of lithium iron phosphate cells. This will make them pioneers in the space

Battery cell demand for EVs to rise, India's reliance on imports continues

S&P Mobility said that while Maruti has a tiny EV market share, its battery cell demand is expected to be 20 per cent by 2035, as against Tata Motors at 22 per cent

GoodEnough Energy to invest Rs 450 cr in 20GWh BESS manufacturing plant

This investment will cover the manufacturing plant's costs, machinery purchases, and infrastructure establishment

GoodEnough Energy to invest Rs 450 cr to set up 20GWh equipment factory

Battery energy storage systems maker GoodEnough Energy will invest Rs 450 crore for setting up a 20 GWh per annum capacity plant in Jammu & Kashmir by 2026. Presently, the company is in the process to make its plant operational by October this year with initial battery energy storage systems (BESS) manufacturing capacity of 7GWh per annum. Talking to PTI on the sidelines of an event to unveil its BESS technology, founder of GoodEnough Energy Akash Kaushik said, "We have invested Rs 160 crore so far to create a BESS manufacturing facility of 7GWh. It will be operational by October this year." He informed that the company has chalked out a plan to invest Rs 450 crore for having a BESS manufacturing facility with total capacity of 20GWh per annum by 2026. In its endeavour to create a fully integrated ecosystem, the Gigafactory will produce advanced battery energy storage systems, empowering various industries to reduce carbon emissions. The company on Tuesday announced this largest .

Exide Industries further invests Rs 40 cr in advanced chemistry battery arm

Battery maker Exide Industries Ltd on Wednesday said it has further invested nearly Rs 40 crore in its wholly-owned arm advanced chemistry battery cells manufacturer Exide Energy Solutions Ltd. The investment of Rs 39,99,99,975 has been made by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL), on rights basis, Exide Industries said in a regulatory filing. "With this investment, the total investment made by the company in EESL stands at Rs 1,965 crore. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition," it added. EESL is in the process of setting up a plant for manufacturing and selling lithium-ion battery cells, modules and pack business. The further capital infusion is to fund the greenfield project and meet various funding requirements of EESL, the company said. EESL is into manufacturing battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch,

JSW Energy arm signs purchase agreement for battery energy storage

JSW Energy on Tuesday said its arm JSW Renew Energy Five has inked a battery energy storage purchase agreement (BESPA) for the first 250 MW/500 MWh standalone battery energy storage system. An energy storage system of 250 MW/500 MW means 250 MW of battery energy can provide power backup for two hours, giving a total output of 500 MW. JSW Renew Energy Five Limited (JSW Renew Five), a wholly-owned subsidiary of JSW Neo Energy Limited (or JSW Neo) and step-down subsidiary of JSW Energy Limited (or The Company), has signed battery energy storage purchase agreement (BESPA) for the first project of 250 MW / 500 MWh standalone battery energy storage system out of the total awarded project capacity of 500MW /1,000MWh (two projects each of 250 MW / 500 MWh) with Solar Energy Corporation of India Limited (SECI), a company statement said. The company will be entitled to receive a fixed capacity charge of Rs 10.84 lakh per MW per month for twelve years for 60 per cent of the total capacity, ...

Tata Group firm Agratas to build UK's biggest EV battery plant in Somerset

Agratas, Tata Group's global battery business, on Wednesday confirmed that it will build Britain's biggest electric vehicle battery manufacturing facility in Somerset, south-west England. The so-called gigafactory, announced last year, will be built on the Gravity Smart Campus near Bridgwater in Somerset with a community-first approach, involving locals to learn more about and be a part of the project. The company said the 40 GWh factory is set to contribute almost half of the projected battery manufacturing capacity required for the UK automotive sector by the early 2030s. "Our multi-billion-pound investment will bring state-of-the-art technology to Somerset, helping to supercharge Britain's transition to electric mobility whilst creating thousands of jobs in the process, said Tom Flack, CEO of Agratas. "We care deeply about the communities we operate in, so it's imperative to us that we work with, and listen to, our new neighbours as we build our factory in Somerset. That's why .

Battery capacity lowered due to electric vehicle target scale-down

The government has earmarked Rs 250 crore for incentives under the PLI scheme for batteries in FY24-FY25

No supply chain concerns, 40% biz expected from domestic market: GFL CEO

GFL discusses the company's plans to deploy their existing backend supply chain of flourspar and its Moroccan mines with new age technology to develop modern battery solutions

GFCL EV to invest Rs 6,000 crore in indigenous EV battery supply chain

Vivek Jain, chairman of INOXGFL Group, said the investment highlights its pivotal role in shaping the future of the EV and ESS battery industry

Centre begins re-auction for 10 GWh tranche of ACC battery PLI scheme

Bidding process will be held online through a transparent two-stage process

Battery maker IBC raises $35 mn to fund manufacturing expansion in India

Company says it is developing products are safe at high temperatures and have a longer life

Vietnam's EV maker VinFast plans to set up battery plant in Tamil Nadu

The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the sources said

Battery recycling startup BatX Energies raises $5 mn in early stage funding

Battery recycling startup BatX Energies on Tuesday said it raised USD 5 million (over Rs 40 crore) in an early stage funding round led by Zephyr Peacock. Lets Venture as well as existing investors JITO Angel Network and family offices of Mankind Pharma, Excel Industries, and BluSmart also participated in the pre-Series A funding round, BatX Energies said in a statement. The infusion of fresh funds will help scale up recycled battery-grade lithium, nickel and cobalt production and establish a secured nationwide reverse logistics network for sourcing, it added. "Through strategic allocation of these funds, we're poised to power our vision of sustainable energy solutions. We're directing resources towards pioneering R&D initiatives, elevating the production of superior battery-grade materials," BatX Energies Co-founder & CTO Vikrant Singh said. He further said, "This investment propels our mission to expand globally and establish micro facilities nationwide, fostering a future ...

Hindalco Industries plans Rs 800 crore unit in Odisha to tap EV ecosystem

25,000-tonne plant in Odisha's Sambalpur will be commissioned by July 2025

Kinetic's high-speed e-scooter Zulu comes with battery subscription plan

The battery subscription model is claimed to have reduced the acquisition cost by over 35 per cent and offers significant savings on running costs

Himadri Speciality to invest Rs 4,800 cr to make Li-ion battery components

Himadri Speciality Chemical also announced that it has completed the acquisition of a 100 per cent stake in Himadri Clean Energy Ltd