The JV will make battery packs in Surat, Gujarat for two- and three-wheelers.
03 Dec 2019 | 19955 Views | By Autocar Professional Bureau
Taiwan-based Ahamani EV Tech has inked a joint-venture with Gujarat-based battery maker, Renon India to produce automobile battery packs for both the domestic and international market. This is Ahamani Group's second venture in India. Earlier, in June 2019, UrDa Mobility, backed by the Ahamani Group had announced plans for 100,000 e-scooters
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Taiwan-based Ahamani EV Tech has inked a joint-venture with Gujarat-based battery maker, Renon India to produce automobile battery packs for both the domestic and international market. This is Ahamani Group's second venture in India. Earlier, in June 2019, UrDa Mobility, backed by the Ahamani Group had announced plans for 100,000 e-scooters in the country.
The new joint venture aims to provide reliable and technologically advanced battery packs with higher lifecycle to automakers. The partners have committed a investment of $3.7 million (Rs 26 crore) in the JV to build customised battery packs. The JV will establish a battery factory in Surat, Gujarat with an initial capacity of 200 MWh per annum and it can be further expanded to 1GWh over next few years.
Commenting on the partnership, TC Kung, CEO, Ahamani said, "We see this as a right time to position our reliable and heavy-duty battery packs for the Indian market. The Indian automobile market is evolving very fast and opening up doors for more innovation and reliable products.”
Vineet Mittal, director, Renon India added that , “This is our third venture in sustainable business from our group company. We see two- and three-wheelers to be the first ones to transform to electric and this creates a lot of opportunity for us. We couldn’t have better partners than Ahamani, given their huge experience of 20 years in the electric vehicle space.”
According to the partners, the JV will also aim to tackle numerous battery-related challenges with regards to cost, energy density, lifecycle, charging time and safety, stable supply capacity and effective recycling structures.
Ankit Kumar, director and chief of Strategy, Ahamani said “The initial offerings of the company would include LFP (Lithium Ferrous Phosphate) and NMC battery packs for two- and three-wheeler EVs which will be customised as per the industry requirements.”