Electric vehicle maker Simple Energy has inked an initial pact with the US-based battery technology firm C4V (Charge CCCV) to set up a Lithium-ion cell manufacturing facility in the country with an investment of USD 150 million, the company said on Wednesday.
The facility with an initial capacity of 1-Gigwatt Hours (gwh), which can be scaled up to 5 gwh, is expected to be functional by the third quarter of this year, Shreshth Mishra, Co-founder, Simple Energy told PTI.
The cell manufacturing plant will be set up within the 600-acre premises of the proposed second EV production facility for which the company has signed a pact with the Tamil Nadu government last November, he said.
The Bengaluru-based energy startup had launched its first e-scooter Simple One mid-August last year. It has, however, not yet commenced the deliveries of its maiden offering.
Lithium-ion battery cells are the central unit of any electric vehicle (EV).”C4V has been working on battery and cell technology for quite some time that is not dependent on rare earth materials. Simple Energy along with C4V will jointly work on R&D of cell manufacturing that makes the battery packs of tomorrow safer and better performing,” said Mishra.C4V is currently in the final stages of commissioning its iM3NY Gigafactory in Upstate New York and is looking to commence production in the next few months.
“By partnering with C4V, we will consolidate cell supply, which is a vital component for us. This strategy also makes us more self-reliant and reduces our dependency on imports,” Mishra said.
The two partners would be working together closely as individual companies, where C4V would bring in the expertise of know-how, patented technologies, and R&D, he said.
In addition to the build-in India initiative, this strategic partnership utilizes cells with industry-leading safety, higher energy density than LFP (Lithium Ferro Phosphate) batteries, faster charging, and longer life cycle based on C4V’s patented technology, according to the Bengaluru-based EV maker.
“We would be looking at a 1gwh capacity that can be scaled up to a capacity of 5gwh and seeing the demand we would also be looking to expand the capacity furthermore if needed. The facility would be operational in Q3 of 2022,” said Mishra.
In a statement earlier in the day, Simple Energy said its partner C4V continues its efforts to stabilize a comprehensive domestic supply chain in India, bringing along the most advanced Lithium-ion battery technology which powers its upcoming two-wheeler and four-wheeler.”C4V is looking forward to this strategic collaboration, thereby supporting the development of the EV industry in India,” Kuldeep Gupta, Vice President (Strategic Partnership), C4V said in the statement.
Oil prices are skyrocketing and the heat is already being felt in the market, he said, adding, “Empowering local manufacturing will not only reduce the burden of import duties but also ensure the timely supply of quality batteries in the EV space boosting the confidence of Original Equipment Manufacturers (OEMs) in the electric mobility market.”
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