Page 9 - Battery Makers

Tiger Global-backed Battery Smart raises Rs 75 cr in funding from Stride

Company will use the financing to add more batteries to its network and expand services

Stride Ventures invests Rs 75 cr in swapping network provider Battery Smart

Venture debt fund Stride Ventures on Thursday said it has invested Rs 75 crore in battery swapping network provider Battery Smart. Battery Smart, which provides swapping networks for electric two and three-wheelers, will use the fund to add more batteries to its network and expand to new cities across India, the company said in a statement. Till date, the start-up has completed over 60 lakh battery swaps, setting up more than 440 live swap stations with over 13,000 customers in over 12 cities in India, it added. "By working towards building a robust EV ecosystem, Battery Smart is taking a proactive approach to drive the adoption of electric transportation, and we are proud to support their efforts," Stride Venture Founder & Managing Partner Ishpreet Singh Gandhi said. Battery Smart Co-Founder Pulkit Khurana said the company is looking to further strengthen its EV battery-swapping network in India. "By expanding our footprint across more cities and deploying additional batteries .

Rising battery prices threaten to derail arrival of affordable EVs

There are several factors driving the uptick in prices, but the single most important one is rising costs for materials including cobalt, nickel and lithium

Can India become a global EV battery player?

Given the capital-intensive nature of the EV sector, Indian firms will have to grab a share of the global battery demand pie to turn a profit. Can Indian industry succeed in this ambitious venture?

Amara Raja to invest Rs 9,500 crore in Telangana battery-making unit

Unit will house Amara Raja E-hub, an advanced energy research and innovation centre to meet firm's development needs and offer facilities to other players in the energy and mobility space

Hyundai to introduce global battery electric platform in India with Ioniq 5

Hyundai Motor India on Thursday said it will introduce its global dedicated battery electric vehicle platform in the country with its upcoming model Ioniq 5, slated to debut in the Auto Expo in January next year. The Ioniq 5 will be the company's first model in the country based on the electric Global Modular Platform (E-GMP). "With the introduction of E-GMP to India, we will be able to provide customers with advanced battery electric vehicles, derived from a platform that is modular, scalable and versatile," Hyundai Motor India MD & CEO Unsoo Kim said in a statement. Conceptualised and engineered to pivot the future transformation of electric mobility, E-GMP will usher in a new league of electric vehicles for the new age customers in India, he added. The automaker currently sells a single electric model -- Kona Electric in the domestic market. Last year, the South Korean auto major had announced plans to invest around Rs 4,000 crore to drive in six electric vehicles in India by .

Carmaker SEAT to build Spain's first electric vehicle battery plant

Spanish carmaker SEAT said on Wednesday that it plans to build Spain's first electric car battery plant as part of a 10-billion-euro investment in the country's electric car initiative. The Spanish government said last year that it would convert the country's car manufacturing industry, the second-largest in Europe, with funds from the European Union's post-pandemic recovery plan. SEAT, which is part of the Volkswagen Group, plans to build the battery plant in Sagunto, a town near the eastern city of Valencia. The company said the Volkswagen Group would also electrify SEAT's existing car plants in the northern city of Pamplona and Martorell, a town near Barcelona. SEAT President Wayne Griffiths said the 10 billion-euro investment would allow the company to make electric cars for both domestic sales and the European export market. SEAT had already committed to producing an electric car in the 20,000- to 25,000-euro (USD 20,000-25,000) range. This project will democratise access to

Eveready charged up, aims to double revenue in 4 years with existing biz

Company's focus shifts to topline growth under Burmans; may look at new categories later

Europe leans on Asian firms for 'homegrown' electric vehicle batteries

French battery startup Verkor, for example, announced on Wednesday that it had raised 250 million euros ($249 million) to fund a megafactory

Why the US cannot match China's industrial heft on EVs, batteries

Instead of focusing on manufacturing - its biggest weakness - the US Department of Energy has backed firms that will process lithium, "demonstrate new approaches" and recycle powerpacks

Eveready PAT dips 52% to Rs 15 cr on non-cash charge of unamortised fees

Company says the charge will even out for the full year; revenue up 5% to Rs 376 cr

Oops! Wrong Hyundai. Govt's industrial policy misfires again with PLI gaffe

Picking the wrong Hyundai is just embarrassing. Going down a protectionist path reminiscent of the country's own, impoverished socialist past is the bigger folly

India mulls Rs 20,000-cr aid to manufacture grid-scale batteries

Worried over rival China's dominance in lithium, the nation is in talks with countries including Australia to secure supplies of the battery metal, he said

EV battery makers get more time to comply with new safety norms

New standards now applicable in two phases --- December 2022 and March 2023

Battery manufacturers get more time to comply with additional safety norms

The government has deferred the implementation of additional provisions in the battery safety standards, which were to begin from October 1, to give manufacturers more time to comply with new norms, according to an official statement. The statement said now additional provisions in the battery safety standards will be implemented in two phases -- first phase from December 1, 2022 and second phase from March 31, 2023. Concerned over cases of fire incidents observed in electric two-wheelers, the Ministry of Road Transport and Highways (MoRTH) on September 1 introduced additional safety provisions in the battery safety standards, which were to come into effect from October 1. The amendments include additional safety requirements related to battery cells, on-board charger, design of battery pack, and thermal propagation due to internal cell short-circuit leading to fire. "To strengthen the safety parameters for the testing of the batteries used in electric vehicles, Amendment-2, which

Exide to invest Rs 6,000 crore in setting up lithium-ion unit in Karnataka

Exide Industries expects an annual revenue of Rs 10,000 crore- Rs 12,000 crore in the next 8-10 years from the lithium-ion cell business

The $1.3 billion Amara Raja Group sets sights on EV batteries now

The $1.3-billion group will be investing around Rs 7,000 crore on lithium-ion, while continuing its focus on traditional lead acid batteries

India must target full electrification of 2, 3-wheelers in 4 years: Kant

80% of vehicle sales are in those segments, says the country's G20 Sherpa as he hails 'electric revolution'

Investment in cell manufacturing to exceed $9 billion by 2030: ICRA

'The annual battery demand for stationary applications is also likely to grow at a rapid pace and be substantial'

Saudi betting on EV batteries may prompt others to announce ambitious plans

The world's oil capital, Saudi Arabia wants to go electric and get clean. To do so, it's getting its hands on minerals critical for batteries and taking a stake in the electric vehicle-supply chain