5 Indian EV battery makers to watch out
Who's in charge of the newborn electric car market? Who has more batteries available? And, even today, the batteries are not produced by car manufacturers but by the Asian electronics giants. Even Tesla, which manufactures most of the batteries it fits on its Evs in its factories, actually has Panasonic handle the production of the cells. And Panasonic, in 2019, has seen itself snatch the crown as a leading company in the production of batteries for electric cars globally. Today, in this post we will tell you about the top 5 EV battery makers of India. Are you ready, excited, let's go!
Amara Raja Batteries
Amara Raja Batteries is often referred to as the second-largest automotive battery manufacturer. It opened the country's first lithium-ion battery technology center at its Tirupati factory, Andhra Pradesh at the beginning of the year. The Advanced Lithium-Ion Research Center at Tirupati headquarters is a pilot project and will be the country's first lithium-ion battery center in the coming years. The company invested Rs 20 crore in the facility. However, this does not include the technology transfer fees and bids paid when ISRO, along with nine other companies, won the National Space Agency's January 2019 bid.
ISRO listed 10 out of 141 companies in 2019 and offered to transfer lithium-ion battery technology to those companies. However, none of them went into production so far. Amara Raja was the first manufacturer to start making EV batteries. Through technology transfer, ISRO will help these companies set up lithium-ion battery manufacturing facilities and train their employees. Rs 1.6-lakh crore Local Manufacturing Incentive (PLI) plan announced last November, the general development of electric vehicles, especially the development of lithium-ion batteries, will receive a government grant of Rs 180 billion.
Tata Group is already famous for its electric cars like Nexon EV. The group had already announced its plans to invest in manufacturing lithium-ion batteries in Gujarat. Many TATA group companies like Tata Chemicals and Tata Motors have a significant presence in Gujarat. They want to continue investing in the state and to invest not only in electric vehicles but also in lithium-ion battery projects. They are in talks with the state government to increase the capacity of Tata Chemicals. Gujarat is a very important state for the Tata group. The company had received revenue of Rs 18,000 crore from the state in 2018. Now, the company is ready to expand its presence in the technology space and also invest in renewable energy. Tata Chemical also signed a Memorandum of Understanding to transfer lithium-ion battery technology with the Indian Space Research Organization (ISRO). Tata Group has developed future policy incentives for EV battery manufacturers and soon they will start working on their plans in Dholera, Gujarat.
Suzuki Motor Corp., the Japanese company that sells the largest number of cars in India will fit a new type of lithium-ion batteries in its premium cars sold in India. The company will manufacture these batteries from its battery plant in Gujarat starting in the coming years. The long-lasting Lithium-Ion battery will replace the conventional lead batteries in cars sold by Maruti Suzuki India Limited. The lithium-ion battery will fit the Swift hatchback and all models that are more expensive will be fitted with this battery.
The company plans to purchase a lithium-ion battery from a new joint venture (JV) between Toshiba and Denso to build a package of hybrid vehicles and it will be limited to only 20,000 hybrid vehicles per year. Hybrid vehicle batteries and lithium-ion batteries have different chemical combinations. The first phase of the project has been delayed for several months due to functional disruptions caused by the Covid-19 pandemic, but the company presented plans for the second phase of the project, as the first phase of work is already behind schedule. The lack of a well-defined infrastructure for electric vehicles and the downturn in the market for these vehicles has slowed the progress of the second phase of the Automotive Electronic Power Joint Venture (AEPPL).
Hero MotoCorp has recently introduced its first electric two-wheeler by 2022. The company can choose the time between January and March of the year 2022 for this. Hero MotoCorp recently joined hands with Taiwan-based battery-swapping network and electric vehicle maker Gogoro, after which the company's discussion of launching electric vehicles has intensified.In addition to the production of electric vehicles, the plant will also ready to try its luck in the production of lithium-ion batteries, which is a priority for Ather Energy in the future. The factory has a capacity of 120,000 batteries per year. Ather Energy is the only partner electric vehicle supplier in India that produces its batteries and has 13 patents pending for battery design and manufacturing that have already been filed by them.
Exide is a very famous name in the battery manufacturer company. I am sure we all know Exide due to our inverter batteries at home. It is working on lithium-ion technology to meet the demand of the Electric Vehicle (EV) industry. However, the company believes that even after the popularity of EVs, the traditional 'lead-acid battery' will remain relevant. The company recently invested INR 331.7 million ($4.5 million) in its subsidiary Exide Leclanche Energy and its stake increased from 77.9% to 80.2% in the EV market. EIL said the additional investment would be specific to meet the financial needs of JVC fixed asset projects. The joint venture's paid-up capital is currently 128.59 crore, the company said. On March 31, 2020, the net assets amounted to 144.98 crore and sales amounted to 2.19 crore. The after-tax loss for the year ended March 31, 2020, was 18.95 chlorides.
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