Page 7 - Battery Makers

Commercial production of battery cells under ACC PLI likely in Q4FY24

To monitor the progress of the work of the selected beneficiaries, the Ministry has appointed Engineers India Limited (EIL) as Independent Engineers

RecycleKaro to invest Rs 100 crore to set up Nickel plant in Maharashtra

Lithium-ion battery recycling firm RecycleKaro on Thursday said it plans to invest Rs 100 crore for setting up a nickel plant in Maharashtra with a capacity to produce 1,200 tonnes of the metal annually. Spread across 17 acres of land, the upcoming facility at Palghar district of the state will incorporate a plant capable of producing nickel from scrapped lithium-ion batteries and nickel hydroxide, RecycleKaro said in a statement. The plant will commence production by the end of 2023, it said. This venture is aimed at completing the value chain of a circular economy and meeting the surging demand for lithium-ion batteries in India's fast expanding electric vehicle market, the company said. "RecycleKaro announces its ambitious plans to establish a nickel metal plant, with a substantial investment of Rs 100 crore, in Maharashtra," the company said in a statement. The plant is expected to produce 1,200 tonnes of nickel annually, with 30 per cent of the production allocated for use in

Zomato-Battery Smart partner to facilitate battery swapping for e-bikes

Online food ordering and delivery platform Zomato on Monday said it has partnered with Battery Smart to provide battery-swapping access to its delivery partners on the latter's network. Under the partnership, Zomato's delivery partners can get access to Battery Smart's existing network of over 800 swap stations across more than 30 cities, the company said in a statement. Battery Smart provides battery swapping networks for electric two and three-wheelers. "This association with Battery Smart adds further momentum to our commitment as our delivery partners can now leverage a vast and accessible network of battery swapping stations," Zomato COO, Food Ordering & Delivery Business, Rinshul Chandra said. Zomato has committed to 100 per cent EV adoption by 2030 and joined Climate Group's EV100 campaign, he added. Battery Smart co-founder Pulkit Khurana said the association with Zomato empowers new and existing delivery partners to join the EV revolution. India's food delivery market is

Amara Raja Batteries to expand into two-wheeler market to power growth

The company, which owns the Amaron battery brand, aims to penetrate into two-wheeler EV market first with chargers and eventually through battery packs as it expands its so-called 'new energy' segment

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