Chennai-Based Lucas TVS Plans 10 GWh Battery Gigafactory in Tamil Nadu

Sep 3, 2021 04:58 PM ET
  • Significant auto component suppliers entering the battery production space shd be good news for India's aspirations.
  • This is among the earliest at scale endeavors encouraging grid scale batteries too, timed well with a raising passion in the choice in India.

Lucas TVS, the Chennai-based auto components major that is part of the TVS group has actually authorized an agreement with 24M's advanced 'SemiSolid' electrode modern technology.

24M has actually constructed its online reputation on the guarantee of a lithium-ion battery manufacturing procedure that is more modular, effective and low cost.

Spun out of MIT, it currently has partnerships with EV battery companies and battery storage space system makers around the globe, including Japan's Kyocera, which has been piloting production of 24M cells for usage in property battery systems and Canadian household and tiny business battery storage space manufacturer Eguana Technologies. Norwegian lithium battery start-up Freyr is also a partner.

Lucas TVS says that it intends to open the gigafactory in Thervoy Kandigai, Gummudipundi, by the 2nd half of 2023 and build up manufacturing ability to 10GWh in 2 phases, with the expectation that other plants will be created around the country at later dates.

The cells manufactured at the plant would certainly be utilized in fixed energy storage space systems-- consisting of grid-scale-- along with in electrical vehicles and will certainly likewise be targeted at changing lead acid batteries for various applications. Our team believe the company will certainly anticipate to be a part of the PLI plan for battery manufacturing with these strategies.

For 24M, the deal, if it fructifies, will be its very first huge one in India. Beyond its cost advantages, 24M's trademarked cell layout enhances security, reliability, and traceability, by essentially removing potential steel contamination, the most typical reason for shorts in traditional lithium-ion cells. It has actually produced a binder-free manufacturing procedure which enables electrodes 4 to 5 times thicker than various other lithium cells. This removes a "significant part of the inactive material set," consisting of copper, aluminium and cell separator, allowing reduced expenses and intricacy.

Lucas TVS plans to construct products using various chemistries, in Pouch and Prismatic cell formats, with high power density. The products will certainly fulfill customer requirements in e-mobility, stationary power storage, including grid-scale markets, and lead acid battery substitute. Lucas TVS will likewise be supplying total battery services to those clients that need them.

" Lucas TVS believes in purchasing the next-generation modern technologies, which is why we selected to companion with 24M," specified T.K. Balaji, Chairman and Taking Care Of Director, Lucas TVS. "We are certain that their ingenious SemiSolidTM platform innovation will allow us to supply our consumers cost effective e-mobility, lead acid battery replacement and storage space options with better quality and best-in-class security."

" We are delighted to partner with a market leader like Lucas TVS with a 60+ year track record of efficiency as a leading company of electro-magnetic options to the wheelchair market," commented Naoki Ota, President of 24M. "Our ingenious SemiSolidTM innovation and ongoing R&D financial investments will certainly sustain Lucas TVS's aspiration to end up being a leader in the energy storage space for mobility, lead acid battery substitute, storage and grid scale markets in India."

The offer complies with an interesting pick up of activity and even more importantly, financing in the battery space. We had reported previously on Bengaluru based Log9 products grabbing Amara Raja batteries as a key investor.