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Joint Sector | Multi State - India | PID: 196225
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Automotive electrical components manufacturer Lucas TVS and 24M Technologies, developer of lithium-ion battery technologies, have signed a license and services agreement to construct one of the first giga factories in India using 24M’s SemiSolidTM platform technology
The first plant will be set up in Thervoy Kandigai, Gummudipundi near Chennai, Tamil Nadu and Lucas TVS expects to build other plants throughout India to support the growing energy storage, electric mobility and lead acid battery replacement markets
The Chennai plant is expected to begin commercial production in H2/2023
Lucas TVS plans to grow the capacity of the plant to a globally competitive scale of 10 GWh in two stages
The SemiSolidTM technology enables the production of a thicker electrode, increasing energy density and reducing materials costs. Beyond its cost advantages, 24M’s patented cell design enhances safety, reliability and traceability, by virtually eliminating potential metal contamination, the most common cause of shorts in conventional lithium-ion cells
| Updated on: 01 - Sep - 2021
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