The company aims to leverage 24M’s SemiSolid platform which it claims offers a significantly simpler process flow reducing capital costs substantially
Auto components maker Lucas TVS has announced its partnership with li-ion battery developer 24M Technologies to construct one of the first lithium-ion battery manufacturing giga factories in India based on SemiSolid platform technology.
The company said in a statement that the first plant will be set up in Thervoy Kandigai, Gummidipoondi, near Chennai. The plant is expected to begin commercial production in the second half of 2023.
Based on the aggressive targets set by the government in the renewable energy and electric mobility space, Lucas TVS plans to grow the capacity of the plant to a scale of 10 GWh in two stages.
Lucas TVS further said that it expects to build other plants throughout India to support the growing energy storage, electric mobility and lead acid battery replacement markets.
The company aims to leverage 24M’s SemiSolid platform which it claims offers a significantly simpler process flow reducing capital costs substantially and has significant benefits as compared to conventional manufacturing processes.
Lucas TVS said that it will be the first to introduce SemiSolid lithium-ion batteries produced in India and specifically designed for the Indian market.
The company plans to build products using different chemistries, in Pouch and Prismatic cell formats, with high energy density.
“We are confident that the innovative SemiSolid TM platform technology will enable us to provide our customers affordable e-mobility, lead acid battery replacement and storage solutions with improved quality and best-in-class safety,” T.K. Balaji, chairman and managing director, Lucas TVS, said.
“We are delighted to partner with a market leader like Lucas TVS with over 60 years of performance track record as a leading provider of electromagnetic solutions to the mobility market,” Naoki Ota, chief executive officer, 24M, said.
“Our innovative SemiSolid TM technology and ongoing R&D investments will support Lucas TVS’s ambition to become a leader in the energy storage space for mobility, lead acid battery replacement, storage and grid scale markets in India,” he added.
