Amara Raja Energy & Mobility (AREM) has signed a pact with Ather Energy to create and supply Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) lithium-ion cells for electric two-wheeler batteries, the company informed stock exchanges on August 1.
These batteries are going to be produced locally at Amara Raja's upcoming Gigafactory in Divitipally, Telangana. Amara Raja has ambitions to be one of India's largest makers of Li-ion and advanced chemistry cells in India, and has laid out a plan to invest Rs 9,500 crore in the proposed 16 Gwh gigafactory.
This partnership is focused on supporting the expansion of India's electric vehicle market and advancing the localization of EV technologies, Amara Raja said.
Tarun Mehta, co-founder and CEO at Ather Energy called this a significant step in promoting homegrown cell technology. "This will help us optimize costs and enable us to source lithium-ion cells tailored to Ather's specific requirements."
Amara Raja had recently signed an agreement with Gotion-InoBat-Batteries (GIB) to help them localise global LFP technology for making Li-Ion cells specifically for Indian conditions. "We are proud to partner with Ather and together we will focus on building market relevant solutions”, Vikramaditya Gourineni, ED, Amara Raja Energy & Mobility said.
Industry projections hint at an EV 2W penetration of 40 percent in India by 2030.
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