The amount is equivalent more than a third of LG’s total revenue last year.
India is aiming to reach 500 gigawatts of clean power capacity by 2030 and affordable storage solutions for intermittent sources like solar and wind are crucial in a country that still gets nearly three-quarters of its electricity from coal.
Mahindra & Mahindra said the state-of-the-art unit will feature 'India’s most sophisticated robotic paint shops to optimise quality and efficiency'
The joint agreement will develop advanced battery anode material (BAM), used in lithium-ion batteries used in electric vehicles.
Companies including SoftBank-backed e-scooter maker Ola Electric, and miner Vedanta Ltd and Jindal Power are among those bidding for critical minerals blocks, which include lithium
The manufacturing facility will also help create over 11,000 jobs.
Analysts said the government is likely to focus on boosting rural consumption and this is expected to benefit rural-focused two-wheeler and entry-level four-wheeler companies
Sun Mobility CEO Anant Badjatya elaborated that the state-of-the-art technology would propel mobility to the future and play an important role in removing the bottlenecks for EV users.
Energy transition expert Madhura Joshi explains why clean energy is essential for a stronger economy, sustainable development, better air, and a climate-safe future.