The new manufacturing plant is set to come up at Sri City in the state, providing direct employment to 900 people and indirect employment to 1000.
Delhi based Avanze Inventive will set up the lithium-ion cells manufacturing unit in the state of Andhra Pradesh with the help of the Andhra Pradesh Economic Development Board (APEDB).
Founded in 2017, Avanze Inventive is principally engaged in rechargeable battery business and assembly services, providing one-stop services including design, manufacturing, testing, and assembly.
The new manufacturing plant is set to come up at Sri City in the state, providing direct employment to 900 people and indirect employment to 1000. The plant, with a total size of 1 GW, will entail a total investment of Rs 1800 crore (US$ 256 million).
Development on full swing
Saransh Aggarwal, founder and CEO of Avanze Inventive in an interaction with pv magazine informed that the company’s R&D team has been working on different chemistries of Li-ion batteries. The organisation is in a discussion phase with Dr. Kuldeep Singh, who is a Scientist at Central Electro Chemical Research Institute (CECRI) under the Council of Scientific and Industrial Research (CSIR), for his technical support, said Aggarwal.
He further added that Avanze has been working on manufacturing the cells that are safe and capable of real-time fast charging, and have a life span of 15 years with 80 per cent Depth of Discharge (DOD).
The announcement comes after the Union cabinet recently approved Phased Manufacturing Program to support large-scale, export-competitive integrated batteries and cell-manufacturing giga plants in India, along with another program to localize production across the electric vehicles value chain. The two programs are intended to run until 2024.