Taiwanese electric vehicle (EV) maker Ahamani EV Tech has formed a joint venture (JV) with Gujarat based battery maker Renon India 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, the company said in a release.
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.
This is Renon India’s third venture in sustainable business. The company sees two and three-wheelers to be the first ones to transform to electric and this creates a lot of opportunities for them to be in the market.
The company couldn’t have hoped for a better partner than Ahamani, given their huge experience of 20 years in the electric vehicle space globally.
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.
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.
Reference- Economic Times, Auto India, The Financial Express