- The company, which currently has battery manufacturing capacity of 300 megawatt-hours per annum, plans to set up a new unit at Greater Noida to take its total battery manufacturing capacity to a “gigawatt-hour scale”
- Lohum Founder and CEO Rajat Verma said that at this stage, the immediate goal is to set up a large integrated facility in the next 12 months time frame
As per a report by PTI, lithium-ion battery pack manufacturer and recycling company Lohum plans to invest up to Rs 250 crore in the next three years to enhance its capacity with plans to foray into electric four-wheeler battery segment, as per a top company official. The company, which currently has battery manufacturing capacity of 300 megawatt-hours per annum, plans to set up a new unit at Greater Noida to take its total battery manufacturing capacity to a “gigawatt-hour scale” to respond to the increase in demand from the electric vehicles segment.
Lohum Founder and CEO Rajat Verma told PTI that what the company anticipated for 2022 capacity, it realised that the caapcity will fall short and that is what the company is now in the process of doing both on the manufacturing and recycling side. Elaborating on the plans, he said that at this stage, the immediate goal is to set up a large integrated facility in the next 12 months time frame, where the company can manufacture up to 1,000 batteries a day, where it can process up to 1,000 tonnes of old feedstocks a day.
Lohum has started a pilot project for electric four-wheeler batteries
Approximately, to go out and set up a gigawatt-hour scale manufacturing facility and a 1,000 tonne (per day) recycling facility. The current capacity of the company is approximately 300 megawatt-hours per annum and in terms of units per day it translates into about 200-250 units a day.
When asked about investments on the new project, Verma said, that in the very near term horizon, it is looking to deploy about another Rs 50 crore. In the next two to three years timeframe, the company s looking to deploy an additional Rs 200 crore. All these will into enhancing capacities of battery packs for two, three and four-wheelers. Although the company currently offers electric two-wheeler, three-wheeler battery packs along with batteries for storage application, he said Lohum has started a pilot project for electric four-wheeler batteries as well.
He added that the company has started working with a couple of four-wheeler customers, who don’t do traditional four-wheelers. These are slightly different four-wheeler categories. The company is putting together battery packs for the four-wheeler category. Stating that the project is at a pilot stage at the moment, he added that he anticipates to go into mass production there as the company sets up the factory.