Amara Raja to Set up Lithium-Ion Plant in Andhra Pradesh

- Advertisement -
- Advertisement -

The company is working with IIT-Chennai to build a 100 megawatt-hour assembly plant in Andhra Pradesh

Amara Raja Batteries Ltd will build a lithium-ion assembly plant as it seeks to grab a slice of the market for electric vehicle power packs that are set to grow to $300 billion by 2030. Well, the incubation work is going on as they are at a beginning stage both from the market-demand and product-development perspective. They are building solutions for the early stage of electrification of vehicles and work with the OEM programs at the same time.

As per the government think-tank NITI Aayog, Indian and overseas companies are gradually entering the new segment to manufacture green vehicles. However, the shift will be gradual as India needs to push for EVs in a consistent manner over a long period of time and also ensuring that automobile jobs stay unaffected.

- Advertisement -

Growth of e-rickshaws and small three-wheeler taxis

S. Vijayanand, CEO of Amara Raja Batteries Ltd told that the company expects the market for supplying batteries to e-rickshaws and small privately-owned three-wheeler taxis, to grow at a compounded rate of about 20 per cent over the next five years. He also mentioned that this new lithium-ion pack assembly is expected to generate business by the end of this financial year, ending March 2019.

Prime Minister Narendra Modi will announce the second phase of the country’s Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) program. The 55 billion-rupee ($766 million) program seeks to give incentives for the adoption of EVs.

Ali Izadi-Najafabadi, head of intelligent mobility at Bloomberg NEF mentioned the fact that currently there’s no lithium-ion battery cell production plant in India. He also told that Amara Raja is primarily interested in winning demand from the second phase of the FAME scheme which is expected to subsidise a limited number of electric buses and three-wheelers.

 

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Exclusive: AET Display Says Will Invest Rs 350 Crore In India In Five Years

0
Headquartered in China, the company believes that the Indian market for LED Displays will grow better than in its home country five years from...
teamwork

Team Comes First… Maybe Not

0
The order of priorities may vary, but building a strong team is essential for the long-term success of any startup. By strategically navigating the...

AMU’s Nehal Gupta Says Used EV Market Key To CEV Finance

0
Unlike the used vehicle market, no market exists for used commercial EVs. The former has been one of India's biggest vehicle sales enablers. So,...

Buzz

Agriculture drone spraying water fertiliser on the sunflower field

Cabinet Approves Drones for 15000 Women Self Help Groups

0
Overall ₹9,60,000 will be gained by the beneficiaries with the help of drones. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a...
Source: Antaisolar

Antaisolar Inks A Deal Of 50MW Solar Project

0
This contract advances a cleaner and more sustainable future for Africa The Ghanaian government is committed to enhancing its energy mix by emphasising...

Gogoro Recognized By SIDBI As the First Foreign Two-Wheeler OEM And Battery Swapping Provider

0
SIDBI's Recognition Enables Certain Gogoro Vehicles to Qualify for Financial Programs Aimed at Boosting Electric Vehicle Adoption in India. Gogoro, an electric two-wheeler OEM and...

Important Sectors

Agriculture drone spraying water fertiliser on the sunflower field

Cabinet Approves Drones for 15000 Women Self Help Groups

0
Overall ₹9,60,000 will be gained by the beneficiaries with the help of drones. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a...
Source: Antaisolar

Antaisolar Inks A Deal Of 50MW Solar Project

0
This contract advances a cleaner and more sustainable future for Africa The Ghanaian government is committed to enhancing its energy mix by emphasising...

Gogoro Recognized By SIDBI As the First Foreign Two-Wheeler OEM And Battery Swapping Provider

0
SIDBI's Recognition Enables Certain Gogoro Vehicles to Qualify for Financial Programs Aimed at Boosting Electric Vehicle Adoption in India. Gogoro, an electric two-wheeler OEM and...

Shailesh Chandra: BEV Shift’s Imperative, Tata Targets 50% Market Penetration By 2030

0
Chandra feels that the company is firmly committed to achieving a 50% target by 2030 and will actively collaborate with all ecosystem partners to...

HCL Group’s New OSAT Facility To Be Completed Soon

0
Discussions between the HCL Group and the state government are in progress HCL Group’s Outsourced Semiconductor Assembly and Test (OSAT) facility is near...

Manufacturing

Foxconn to Expand its Footprint in India

0
This investment follows Foxconn's withdrawal from a $19.5 billion chipmaking joint venture in India. Hon Hai Precision Industry Co., also known as Foxconn Technology, plans...

Toyota Group Announces Sale Of Denso Shares Worth US$ 4.7 Billion

0
The stake sale occurs as the Japanese giant accelerates its electric vehicle production. Toyota Motor and its affiliates, Toyota Industries and Aisin are set to...

Union Industry Minister Piyush Goyal Meets Micron CEO for Expansion in India

0
He also met with entrepreneurs and VCs who can contribute to India’s growing talent in technological areas such as artificial intelligence. India's Commerce and Industry...

Which Are The Potential States To Host The Production Of Tesla In India?

0
The American electric vehicle giant Tesla Inc., led by CEO Elon Musk, has frequently hinted at its ambition to break into the burgeoning Indian...
US Chips

America’s $3 Billion Investment In Advanced Chip Packaging

0
The CHIPS for America R&D programs will support the growth of advanced packaging technology domestically. The Biden-Harris administration has announced a plan to enhance the...