The new joint venture aims to provide reliable &cutting-edge technology battery packs with higher lifecycle to automakers domestically as the EV market expands to meet evolving consumer needs and to address issues related to energy and climate change.
Ahamani EV Tech, a Taiwanese EV Giant, and Gujarat-based battery maker Renon India announced that the two companies have established a joint venture to produce Battery packs for the Indian Automobile market.
The new joint venture aims to provide reliable & cutting-edge technology battery packs with a higher lifecycle to automakers domestically as the EV market expands to meet evolving consumer needs and to address issues related to energy and climate change.
T.C. Kung, CEO, Ahamani, said “We have been developing battery packs for the last 20 years for various EV applications and we see this as the right time to position our reliable and heavy-duty battery packs for the Indian market. Indian Automobile Market is evolving very fast and opening up doors for more innovation and reliable products. We are highly committed to PM Modi’s Make in India program.”
There has been a joint investment of $3.7 Million in the JV company to build customized battery packs. The JVC is developing a battery factory in Surat, Gujarat, with an initial capacity of 200 MWh per annum which will further be expandable to 1GWh over the next few years.
Vineet Mittal, Director of Renon India, stated, “This is our third venture in sustainable business from our group company. We see two and three-wheelers to be the first ones to transform into electric and this creates a lot of opportunities for us to be in the market. We couldn’t have better partners than Ahamani, given their huge experience of 20 years in the electric vehicle space globally and becoming their partner of choice for manufacturing reliable and high-tech lithium batteries for electric vehicles.”
The joint venture apart from offering advanced technology will also aim to tackle numerous battery-related challenges that must be of cost, energy density, lifecycle, charging time and safety, ensure stable supply capacity and have effective recycling structures.
Ankit Kumar, Director & Chief of Strategy, Ahamani, added, “The initial offerings of the company would include LFP (Lithium Ferrous Phosphate) and NMC battery packs for 2-wheeler & 3-wheeler EVs which will be customized as per the industry requirements. We see India lead the race of EVs globally in the coming future and are very determined to be a catalyst in this growth.”