Delhi-based battery manufacturer Inverted Energy has announced the opening of itsÂ new lithium-ion batteryÂ manufacturing facility in the Okhla Industrial Area in New Delhi. The company stated that the commissioning of the plant, which currently has a production capacity of 100 MWh (megawatt hour) annually, is aimed at reducing dependence on China.
The company further stated that the objective is to increase the production capacity at the new plant multifold in the coming months.
Recently, Inverted Energy launched a new range of Lithium-ion batteries for electric vehicles (EVs) and home energy storage, among others.
â€śDuring 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,â€ť said Rahul Raj, co-founder of Inverted Energy. â€śWith 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,â€ť he added.
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 the first two lakh electric vehicles, Raj said. He added, â€śWe want to drive the change towards lithium-ion batteries that are more reliable, cost-effective, durable, and made-in-India.â€ť
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.
Recently, India Ratings and Research (Ind-Ra) in its latest market analysis had predicted (that driven by the economic slowdown induced by the Coronavirus pandemic) a delay in the penetration of electric vehicles (EVs) in the Indian automobile industry. And, among other factors, the analysts claim that battery remains the most critical component of an EV due to both cost viability (30-40 percent of EV cost is ofÂ battery) and technological expertise.