Greater Noida, Uttar Pradesh
Lohum, the lithium-ion battery
manufacturer and recycler, will invest Rs 2.5 billion in a phased manner for
the next three years to set up a new manufacturing unit in Greater Noida. This
unit will be focusing on the production of electric-four-wheeler batteries.
Lohum already owns a battery
manufacturing unit with a capacity of 300 megawatt-hours per year. This new
unit will increase its capacity to a gigawatt-hour scale. The expansion plan is
because of the increased demand for batteries in the electric vehicles segment.
Rajat Verma, Founder and CEO,
Lohum, mentioned that their immediate plan was to set up an integrated facility
within the next year to manufacture up to 1,000 batteries a day and process
about 1,000 tonnes of old feedstocks every day.
He further added that by anticipating
the capacity for batteries in 2022, they realized they will be falling
short, and hence, are in plans of expansion. He also added that they will be
investing Rs 0.5 billion in the coming year and will be pumping in Rs 2 billion
in the next two to three years. The expansion will help them manufacture
battery packs for two, three, and four-wheelers.
The brand has already started
working with a few electric four-wheeler customers.
(Image Source: Lohum.com)
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