Page 6 - Battery Makers

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

India joins Battery Energy Storage Systems Consortium for RE integration

As part of this collaborative effort, India stands among the pioneering nations committed to securing 5 gigawatts (GW) of BESS commitments by the conclusion of 2024

Gogoro inks pact with HPCL to set up battery swapping stations across India

Nasdaq-listed battery swapping company Gogoro on Monday said it has signed an initial pact with HPCL to set-up battery swapping stations across the country in the coming years. As part of the collaboration, Gogoro will develop a broad battery swapping infrastructure for electric two-wheelers, as it will roll out battery swapping stations across HPCL's retail outlets throughout the country, the company said in a statement. HPCL (Hindustan Petroleum Corporation Ltd), a public sector oil marketing firm, has over 21,000 retail outlets, it added. "We are announcing a partnership with HPCL to roll out thousands of Gogoro battery swapping stations across its retail outlets throughout the country in the coming years," Horace Luke, founder and CEO of Gogoro said. India is in the early stages of a massive electric transformation of its urban two-wheeler transportation system, and it is increasingly evident that battery swapping is a critical component to broad adoption, so building out the .

Epsilon Advanced Materials to build $650 mn EV battery plant in US

EAM expects the North Carolina plant to reach full capacity by 2031, with a targeted annual production capacity of 50,000 standard tons of anode materials

1,200-km range, 10-min charge: Toyota near solid-state battery breakthrough

If successful, Toyota said that solid-state batteries will double the range of EVs up to 1,200 km, and the charging time will be 10 minutes or less

Production of 50 GWh battery cells to start in early 2024: MHI Minister

Currently, batteries are only assembled in India, with cells imported primarily from China, Taiwan, and European nations

India Battery Manufacturing Vision aims 500GWh annual capacity by 2035

Industry body India Energy Storage Alliance (IESA) on Friday unveiled its 'India Battery Manufacturing Vision' targeting over 500GWh capacity by 2035, having potential to create over 2.6 million jobs and bring investment worth USD 35 billion in the country. IESA is focused on the development of advanced energy storage, green hydrogen, and e-mobility technologies in India. "IESA has also set a vision to further scale this capacity to over 500 GWh by 2035 considering the demand growth for both stationary storage and e-mobility in India," said Rahul Walawalkar, Chair, WESD, Founder and President of IESA, and president & MD, Customized Energy Solutions (CES) India, in a statement. He explained that with 'India Battery Manufacturing Vision', the country can generate over 2.6 million jobs and bring in USD 35 billion investments by 2035. IESA is anticipating that the first gigafactory (manufacturing facility that produces components linked to electrification and decarbonization ...

Epsilon to acquire Johnson Matthey's LFP cathode tech centre in Germany

Home-grown battery materials manufacturer Epsilon on Wednesday said it has signed a pact to acquire Johnson Matthey's LFP cathode technology centre in Germany. This acquisition serves as a catalyst for Epsilon's ambitious plans to eventually cater to 100 GwH of demand and also allows it to go to markets with a proven high performance cathode active material produced at scale, the city-based company said. Epsilon, however, did not disclose the financial details of the deal. The global electric vehicle market, valued at USD 380 billion in 2022, is projected to soar to USD 1.5 trillion by 2030, according to Fortune Business Insights, Epsilon said, adding that cathode materials are pivotal to this growth trajectory. Benchmark's report further underscores the urgency, indicating a need for USD 40 billion investments in cathode materials production to bridge the gap between the current supply and anticipated demand by 2030, it stated. The German facility offers technical capabilities an