Vedanta Nico, the nickel production business of Vedanta, has signed a Memorandum of Understanding (MoU) with AEsir Technologies, a US-based nickel-zinc and lithium-zinc battery developer. Under the MoU, Vedanta Nico will be the preferred supplier of nickel for AEsir Technologies’ next-generation batteries. The latest announcement follows Hindustan Zinc, another arm of Vedanta, securing the zinc supply deal with AEsir Technologies. This paves the way for development and commercialization of nickel-zinc (NiZn) batteries for electric vehicle chargers as well as critical infrastructure and 5G telecom.
Nickel-zinc batteries promise substantial advantages over current battery technologies, including higher energy density, power, enhanced cost efficiency, rapid charging, and superior performance, making them ideal for the rapidly growing energy storage and EV market. Nickel plays a crucial role in EV battery technology, particularly in the cathode, where it enhances energy density, power output, and battery lifespan.
Nickel-rich batteries, such as nickel-zinc variants, offer best-in-class fast charging, reduce reliance on cobalt, and improve the overall EV value proposition.
The global demand for nickel in batteries is projected to surge from 150,000 tonnes in 2020 to 500,000 tonnes by 2025, driven by the expanding EV market adoption.
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