Ahamani EV Tech, a Taiwanese EV major and Gujarat based battery maker Renon India announced that the two companies have established a joint venture to produce Battery packs for Indian Automobile market. 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.
There has been a joint investment of USD 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.
On this development, T.C. Kung, CEO, Ahamani said “We have been developing battery packs since last 20 years for various EV applications and we see this as a 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.”
Adding to this, Vineet Mittal, Director, Renon India said “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 to electric and this creates a lot of opportunity 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.”
On the product line, Ankit Kumar, Director & Chief of Strategy, Ahamani said “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 to lead the race of EVs globally in the coming future and are very determined to be a catalyst in this growth.”
The joint venture apart from offering advanced technology will also aim to tackle numerous battery-related challenges must be of cost, energy density, lifecycle, charging time and safety, ensure stable supply capacity and have effective recycling structures.
"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.” - T.C. Kung, CEO, Ahamani