Triton signs EV battery packs, hydrogen fuel cells deal with BEL
The India arm of USA-headquartered Triton Electric Vehicle has issued an INR 8,060 crore (around $971 million) Letter of Intent to state-owned Bharat Electronics Ltd (BEL) for the purchase of EV battery packs. It will also transfer its technology to BEL for production of hydrogen fuel cells in India.
Toshiba to supply LTO battery cells for EVage commercial vans
Toshiba has signed the deal to supply its SCiB line of lithium titanium oxide (LTO) chemistry battery cells for use in EVage Automotive’s commercial trucks.
Erisha E Mobility launches EVs and EV charging stations, eyes battery manufacturing
The electric vehicle (EV) manufacturer has launched electric cargo and passenger vehicles in the L5 category, along with EV charging stations. It also plans gigawatt-scale production of EV batteries soon.
Metastable Materials commissions chemical-free recycling unit for dead lithium batteries
The Indian startup has opened a lithium battery recycling unit in Bengaluru that deploys a chemical-free process for metal extraction. The facility has the capacity to process 1,500 tonnes of dead batteries per year.
OGO Energy aims 1 GWh/year lithium battery capacity by Dec. 2023
The Indian startup plans to expand its lithium battery manufacturing capacity to 1 GWh by December next year, from the currently under-construction 100 MWh.
Renon targets INR 40 crore of revenue in FY 2022-23
Renon India, an energy storage startup, has announced a new full-year revenue target, as well as plans to ramp up its annual lithium battery manufacturing capacity from 200 MWh to more than 500 MWh.
Battery cell manufacturing in India could attract over $9 billion in investment by 2030, says ICRA
A new report by ICRA says rising electric-vehicle penetration will drive significant investment in battery cell manufacturing in India. It expects EV battery demand in the nation to touch 15 GWh by 2025 and 60 GWh by 2030.
Prime minister Narendra Modi to launch construction of Suzuki’s EV battery plant in Gujarat
Japanese carmaker Suzuki Motor is investing INR 7,300 crore (around $914 million) to set up the electric vehicle battery plant at Hansalpur in Gujarat. The plant will manufacture advanced-chemistry cell batteries.
EV sales to grow at slower-than-expected pace
Sales growth in India’s electric vehicle market will moderate to 75% per year over the next three years, as supply constraints drive up prices of key raw materials for batteries.
India may fall behind its 2030 EV sales forecast
A new report says India will have only 50 million electric vehicles (EVs) on road by 2030 despite a ramp-up in domestic manufacturing, falling behind by 40% on the cumulative sales projections by NITI Aayog. It also recommends policy measures to improve India’s chances of realizing 80 million EV sales by 2030.
