India wants to build the first lithium-ion battery super factory

by:CTECHi     2021-08-12

It is reported a few days ago that India's Bharat Heavy Electric Co., Ltd. (BHEL) and Libcoin Group are in the final stage of talks, and they plan to build the first Gigafactory in India to produce lithium-ion batteries.

Libcoin Group is a consortium composed of Sydney-based Magnis Energy, Duggal Family Trust, and New York-based lithium-ion battery manufacturer Charge CCCV (C4V) .

According to the news released by Magnis Energy, the Ministry of Heavy Industry and Public Enterprise of India approved the project. The initial battery output of the project is 1GWh, and it will gradually increase over time. Increase to 30GWh.

According to the company’s website, Magnis Energy has announced plans to build three lithium-ion battery Gigafactories worldwide:

1. Townsville, Australia 15GWh.

2. New York, USA 15GWh (production will start in 2019).

3. 30GWh in North Rhine-Westphalia, Germany.

Frank Poullas, Chairman of Magnis Energy, said: “We believe that India will be one of the largest lithium-ion battery markets in the world. We will work with partners like BHEL. To build the world’s largest lithium-ion battery production plant. We are very happy for this.'

Libcoin Group Chairman Rajan Duggal said: 'Our plan is to become the largest in India. The goal is to become a pioneer in the Indian market. This project will provide greater assistance to the development of the Indian automotive industry.'

Indian Energy Storage Alliance ( IESA) President and President and General Manager of India Custom Energy Solutions, Dr. Rahul Walawalkar said: “India is expected to invest in the construction of four'Gigafactories' super battery production plants and attract more than US$3 billion in investment in the next three years. BHEL and Libcoin Group are currently negotiating to form an alliance to build India’s first lithium-ion battery super factory (gigafactory).'

Walawalkar pointed out that India’s MSIL company had previously cooperated with Toshiba. Cooperated with Denso and announced plans to establish a lithium-ion battery production plant in Gujarat State specializing in the production of electric vehicle batteries. At the same time, Exide also announced plans to build a lithium-ion battery production plant in India with two partners.

Walawalkar added that in addition, there are at least five other large industrial consortia that are launching plans to build battery factories in India.

In June last year, two research institutions and local developer Raasi Solar Power also signed a memorandum of understanding (MoU) on lithium-ion battery production. Under this circumstance, these organizations hope to establish a manufacturing plant in southern Tamil Nadu to reduce the production cost of lithium-ion batteries to below 15,000 rupees ($222)/kWh, and to deploy supporting solar power facilities for residential users. The energy storage system provides a battery with a life span of up to 25 years.

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