NexCharge, a joint venture between Indian battery maker Exide Industries and Switzerland’s Leclanche SA, will ramp up production by 100% at its lithium-ion battery plant within four years.
NexCharge, a joint venture between Indian battery maker Exide Industries and Switzerland’s Leclanche SA, will ramp up production by 100% at its lithium-ion battery plant within four years, the company’s CEO said on Friday.
The plant, where it began mass production of the battery on Thursday, is currently operating at 30%-40% of its total installed capacity of 1.5 gigawatt hours (GWh), chief executive Stephen Lewis told Reuters.
“We have the ability to meet customer demand for the next few years,” Lewis said. The company is on the “fast-track” to meet the demand of the mobility and utility sectors.
NexCharge said it has so far invested 2.5 billion rupees ($33 million) in the construction and installation of the plant, which also houses a cell testing laboratory.
NexCharge’s blow comes after Prime Minister Narendra Modi’s government is offering billions of dollars in incentives to companies to locally manufacture clean cars and their components, including batteries.
Electric vehicles and clean energy are critical to meeting India’s carbon reduction and climate change goals.
0 notes
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
for the latest auto news And AnalysisFollow carandbike.com Twitter, Facebookand ours. subscribe to youtube Channel.