Page 7 - Battery Makers

ACC battery market demand in India to rise to 220 GWh by 2030: Report

The advanced chemistry cell battery market demand in India is expected to grow at a CAGR of 50 per cent from 20 GWh in 2022 to around 220 GWh by 2030, according to a CII report released on Sunday. The growth is expected to be supported by the thriving local battery manufacturing industry and a robust local supply chain. As a result, India is expected to localize a significant portion of the entire value chain from material processing to pack assembly and integration, said the report on 'Raw materials for Battery & Component Manufacturing'. The report, prepared in collaboration with 6Wresearch, is the third in a series of reports on 'Roadmap for Future Mobility 2030'. "EV is determined primarily by the battery running the powertrain of the vehicle. Advancements in the battery technology space is pivotal for the development of better-performing EVs," said Vipin Sondhi, Chairman, CII National Committee on Future Mobility and former CEO & MD, Ashok Leyland and JCB. He added, "It ..

Assurance International unveil new range of filters, batteries in India

Assurance Intl Limited, under the official licensing collaboration with The Goodyear Tire & Rubber Company, on Thursday unveiled a new range of filters and batteries. The range will be manufactured, marketed, sourced and distributed in India as well as in South Asia, Southeast Asia, Australia and New Zealand markets. "Expected to launch at the end of August 2023, the filters and batteries product line will cater to the needs of multiple vehicles," Assurance Intl Limited said in a statement. Incorporating the latest technology, the batteries will offer increased power, longer life cycles and superior charging efficiency, it added. The company said it plans to expand its distribution and provide after-sales assistance to consumers in Australia, Bangladesh, Bhutan, Brunei, India, Indonesia, Laos, Malaysia, Maldives, Myanmar, New Zealand, Nepal, Pakistan, Singapore, Sri Lanka, Thailand, Timor Leste and Vietnam markets. Assurance Intl CBO Sanjay Sharma said the company is looking at a

Exide Industries expects to regain pre-covid EBITDA margin in 1-2 years

Storage battery major Exide Industries Ltd on Tuesday said it expects to regain its pre-covid EBITDA margin of 13-14 per cent in the next one to two years. The company's current EBITDA margin is 10.6 per cent, as input costs have remained erratic. "We are seeing a revamp in demand after Covid and expecting both automotive and industrial verticals will do well. However, it will take another one to two years to get back to the pre-covid level of margin," Exide Industries MD and CEO Subir Chakraborty said. Speaking about the company's Rs 6,000 crore 12GW lithium-ion cell manufacturing plant near Bangalore, Chakraborty said it is progressing well. He said the company remains unperturbed about the emerging alternative technologies, given the growth of the storage battery market and that all technologies will be required. Commercial production in the Bangalore plant will begin in 2024-25, attracting an estimated capex of Rs 4,000 crore. Chakraborty said the company has received very .

Eveready growth to be backed by 'adequate' profitability: MD Suvamoy Saha

Eveready achieved a growth of 10 per cent over the previous year in its topline, driven primarily by the premiumisation of product portfolio

PLI, tax benefits and more: Niti's advice to boost EV battery manufacturing

The Niti Aayog suggested that the Centre should give impetus to scaling up lithium-ion battery (LIB) recycling infrastructure to complement the extraction efforts of critical minerals

Startup Exponent Energy aims to power 25,000 electric vehicles by 2025

Energy tech startup Exponent Energy is aiming to power 25,000 electric vehicles by 2025 as it displayed its proprietary energy stack comprising battery pack, charging station and charging connector in Bengaluru on Monday. The company, in a statement, said it is looking to expand its operations to Delhi NCR, Mumbai, Hyderabad, Chennai and Ahmedabad by the end of this fiscal and is targeting to deploy 1,000 charging stations and 25,000 EVs powered by Exponent, by 2025. Exponent said its energy stack together unlocks a 15-minute rapid charge, and long battery life (3,000 cycle life warranty, 3 times the industry standard) - all done on regular LFP cells for the first time in the industry. Rapid charging kills range anxiety and the need for expensive, oversized battery packs, it said, adding that with this two-sided approach, EVs powered by exponent will be 30 per cent more affordable, which has been made possible by an optimised battery capacity (30 per cent smaller), and 5-year ...

TMS Ep486: IT return, Tweets turns X, Jio-BlackRock JV, gigafactory

Why do so few Indians pay income tax? Will the 'X' Factor help revive Twitter? Can the Jio-BlackRock JV stir the AMC pot? What is a gigafactory? All answers here

This Vijay Kedia-owned stock has zoomed over 70% in 3 days

Panasonic Energy India Company hit a near eight-year high at Rs 427, on rallying 20 per cent amid heavy volumes on the BSE.

Electric two-wheeler firms cut on battery size after FAME subsidy reduced

Portfolio rejig may keep prices low for customers

India's Epsilon Advanced Materials expects US plant to start by 2026

Epsilon, the first Indian battery component maker to invest in the United States, would finalise a location for its plant in the next three months, said Vikram Handa

Govt's battery swapping policy for EVs faces resistance from industry

Finance Minister Niramala Sitharaman first talked about the battery-swapping plan in her budget speech in February 2022

RACEnergy inaugurates 10,000 sq ft battery production facility in T'gana

RACEnergy, a Hyderabad-based deep-tech electric vehicle infrastructure company for battery swapping, has inaugurated its new 10,000 square feet battery production facility here. The facility inaugurated on Wednesday is equipped with a 50 MWh battery production plant, which can manufacture 30,000 batteries per annum, the company said in a release. This milestone aligns with RACEnergy's goal of targeting 80,000 two and three-wheelers by 2025, representing a significant step towards their target of having 2,50,000 swappable batteries in circulation in the same timeframe, it said. The new facility will provide a collaborative environment for engineers and designers to push the boundaries of innovation, further developing cutting-edge battery technology for electric vehicles (EVs) and significantly expanding the company's production capacity, it said. "The launch of our new facility marks a significant milestone in our journey to revolutionise the electric mobility sector and will cater

Top headlines: Adani cos under Sebi lens, TCS on foreign remittances

Business Standard brings you the top headlines at this hour

Govt prepares new multibillion-dollar battery subsidy scheme: Report

The draft proposal for a production-linked incentive subsidy scheme would offer Rs 21,600 crore ($2.63 billion) from this year through to 2030 for companies

Epsilon to establish EV battery component factory in US, sets aside $650 mn

Mumbai-based Epsilon will generate more than 1,500 direct and indirect jobs at this new facility. The facility is expected to be commissioned by 2026

S Korean firm plans $72M Georgia plant to make battery parts, hiring 140

A South Korean company will open a factory in suburban Atlanta to make parts for electric batteries. NVH Korea said Thursday that it would invest $72 million in a plant in Locust Grove, south of Atlanta, hiring 140 workers. The plant will make sensors, connections and protectors for electric vehicle batteries, beginning operations in 2024. Chairman and CEO Ja Kyum Koo said in a statement that it's NVH Korea's first venture into making components for electric batteries. Based in Ulsan, NVH Korea is the 10th supplier to locate in the region after Hyundai said in 2022 that it would build a $5.5 billion plant to assemble electric vehicles and batteries in Ellabell, Georgia, near Savannah. The site could grow to 8,100 employees and is slated to begin producing vehicles in 2025. Suppliers have pledged to invest nearly $2.1 billion and to hire nearly 4,900 people. It's NVH Korea's second plant in Georgia. Subsidiary AFS America in Columbus makes floor mats and cargo trays for the Hyundai

Battery maker IBC mulling ₹8,000 cr investment in Karnataka, details here

With a significant investment of approximately Rs 8,000 crore, the company intends to establish a non-captive gigafactory. Land, machinery, plant, machinery and building will be the focus of the inves

Ignition of change in electric vehicle battery ecosystem in India

Manufacturers are gradually emerging in a business dominated by assembly operations

Jaguar recalls I-Pace electric vehicles due to fire risk in batteries by LG

Jaguar is recalling more than 6,000 I-Pace electric SUVs in the US due to the risk of the high-voltage battery overheating and catching fire. The recall is the latest in a series of electric vehicle battery recalls because of the potential for fires. Documents posted on Wednesday by the US National Highway Traffic Safety Administration say the recall covers all of the SUVs from the 2019 through 2024 model years. The documents say the vehicle batteries were made by LG Energy Solution, which is under investigation by the NHTSA after five automakers issued recalls due to possible defects that could cause fires or stalling. The NHTSA opened the probe in April of 2022 covering more than 138,000 vehicles with the South Korean company's lithium-ion batteries. General Motors, Mercedes-Benz, Hyundai, Stellantis and Volkswagen have issued recalls since February of 2020, most due to internal battery failures that can increase the risk of fires. The agency says it will write to LG and other

Battery startup Log9 Materials signs MoU with EV maker Quantum Energy

Battery-tech startup Log9 Materials on Tuesday announced signing a Memorandum of Understanding (MOU), with Hyderabad-headquartered electric vehicle maker Quantum Energy for a long-term strategic partnership in the EV space. As a part of this collaboration, the two companies also jointly unveiled a two-wheeler commercial electric vehicle (CEV)-- 'Bzinesslite-- powered by Log9's RapidX 2000 batteries, enabling it to go zero to zip within 12 minutes, Log9 Materials said in a release. Going forward, both Log9 and Quantum Energy will be working hand-in-hand to deploy 10,000 InstaCharged two-wheelers for a wide variety of use-cases, including e-commerce, food delivery, courier services, among others, in the domestic last-mile logistics sector, pan-India by March 2024, it said. The joint initiative is going to be kicked off soon by deploying 200 Bzinesslite e-2Ws in Hyderabad through Whizzy Logistics a logistics fleet service provider enabling hyperlocal deliveries, it stated. * * * *