India's AR or plans to build a lithium battery assembly plant
AmaraRajaBatteries Ltd, India’s second-largest traditional battery manufacturer, will build a lithium-ion battery assembly plant as part of a plan to develop the power supply market for electric vehicles in India.
It is said that by 2030, India's electric vehicle power supply market will grow to 300 billion US dollars.
The battery manufacturer is building a 100 MWh assembly plant in the southern state of Andhra Pradesh, and the company is working closely with the Indian Institute of Technology in Chennai, India.
'The incubation work is currently underway, because from the perspective of market demand and product development, we are in the infancy stage,' said Vijayanand, the company’s CEO, 'We are very focused Establishing solutions for the early stages of vehicle electrification and cooperating with OEM projects.'
In India, there are approximately 3 million fossil fuel-powered passenger vehicles each year Sales, but automakers including Mahindra u0026 Mahindra Ltd., Tata Motors Ltd. and Ashok Leyland are producing electric cars.
In addition, overseas companies such as Hyundai Motor Company and Suzuki Motor Company are considering entering new market segments, as the government plans to account for new energy vehicles in its car ownership by 2030 About one-third of it. However, this transition will be gradual.
NITIAayog said in June that the country’s electric vehicle policy should be geared towards two-wheelers, three-wheelers and public transportation because it has a relatively low car ownership. At the same time, the government also needs to support the establishment of charging infrastructure.
AmaraRaja predicts that the battery market for electric rickshaws (small private three-wheeled taxis) will grow at a compound growth rate of about 20% in the next five years. The new lithium-ion battery assembly is expected to begin operations at the end of this fiscal year, in March 2019.
'Currently, there is no lithium-ion battery production plant in India. AmaraRaja still needs to import batteries from manufacturers such as LG Chem and Panasonic to assemble battery packs,' Bloomberg New Energy Finance Smart Mobility Director AliIzadi-Najafabadi said, 'The target annual assembly volume is small. This shows that AmaraRaja is mainly interested in winning the second phase of the FAME program, which is expected to subsidize a limited number of electric buses and tricycles.'
Indian Prime Minister Narendra Modi will announce this week the second phase of the country's accelerated adoption and manufacturing of (hybrid) electric vehicles (FAME) plan, which includes a subsidy program of 55 billion rupees for electric vehicles.