Delhi-based battery maker Inverted Energy on Wednesday announced the opening of its lithium battery manufacturing facility here.
The commissioning of the plant, which currently has a production capacity of 100 MWh (megawatt hour) annually, is aimed at reducing dependence on China, Inverted Energy said in a release.
“During the lockdown, we realised the drawback of depending on the foreign markets and have worked towards building capabilities, strengthening the team, and working harder resulting in this achievement,” said Rahul Raj, co-founder of Inverted Energy.
Recently, Inverted Energy launched a new range of Li-ion batteries for electric vehicles (EVs) and home energy storages, among others.
“With this capacity addition, the company has extended its journey towards Atmanirbhar Bharat and to create a flexible, cost-effective and optimised market space aiming to reduce dependency (for batteries) on China,” he said.
The company said the production capacity at the new plant is expected to increase multifold in the coming month.
Various states in India are coming up with new plans related to electric vehicles, with Telangana recently launching its EV policy exempting road tax for first two lakh electric vehicles, Raj said.
He added, “We want to drive the change towards lithium-ion batteries that are more reliable, cost-effective, durable and made-in-India.”
Focused on EVs ( both 2- and 3-wheelers), home storage and solar batteries, this plant will help Inverted achieve the required deliverables in terms of quantity and product quality satisfying increased market demand, the company said.
In the next phase, the company is planning for backward integration of its batteries and developing a customised in-house battery management system, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.