Mahindra & Mahindra Ltd.,
a part of the US $19 billion Mahindra Group and LG Chem, Korea’s leading
manufacturer of advanced batteries have announced a collaboration in the field
of advanced Li-ion battery technology.
Under the aegis of this
collaboration, LG Chem will develop a unique cell exclusively for India
application and will also supply Li-ion cells based on NMC
(nickel-manganese-cobalt) chemistry with high energy density. These cells will
be deployed in the Mahindra and SsangYong range of Electric Vehicles. LG Chem
will also design the Li-ion battery modules for Mahindra Electric, which in
turn will create battery packs for the Mahindra Group and other customers.
In keeping with the investment
plan already announced by Mahindra last year, a battery module plant is also
under development. The plant will have a capacity of half a million battery
modules per annum and will also house a battery module pack line and the entire
facility for both module and pack is expected to go into production in the last
quarter of FY 2020.
Commenting on this
announcement, Hemant Sikka, President & Chief Purchase Officer, Mahindra
& Mahindra Ltd. said, “The Electric Vehicle revolution is taking the
country by storm and at Mahindra we are happy to be at the forefront of this
change. This association with LG Chem will give Mahindra the requisite access
to advanced battery technology and will also enable us to deliver globally
competitive products. At Mahindra we are preparing to scale up in accordance
with our expansion plans in order to meet demand expected in the near future.
We look forward to a strong and fruitful association with LG Chem.”
Source: Mahindra & Mahindra
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