Ahamani Forms Joint Venture with Renon India
CEO Insights team
An investment to the tune of 3.7 million US dollars has been made through this partnership to build customized battery packs. The joint venture company is developing a battery factory in Surat, Gujrat with an initial capacity of 200 MWh per annum which will further be expandable to 1GWh over the next few years.
Commenting on this development, T.C. Kung, CEO, Ahamani, says, “We have been developing battery packs since last 20 years for various EV applications and we see this as a right time to position our reliable and heavy-duty battery packs for the Indian market. Indian Automobile Market is evolving very fast and opening up doors for more innovation and reliable products. We are highly committed to PM Modi’s Make in India program.”
We see two and three wheelers to be the first ones to transform to electric and this creates a lot of opportunity for us to be in the market
Vineet Mittal, Director, Renon India, asserts, “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 to be in the market. We couldn’t have better partners than Ahamani, given their huge experience of 20 years in the electric vehicle space globally and becoming their partner of choice for manufacturing reliable and high-tech lithium batteries for electric vehicles.”
“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. We see India to lead the race of EVs globally in the coming future and are very determined to be a catalyst in this growth,” enlightens Ankit Kumar, Director & Chief of Strategy, Ahamani, on the product line.
The joint venture apart from offering advanced technology also aims to tackle numerous battery-related challenges like cost, energy density, lifecycle, charging time and safety, ensure stable supply capacity and have effective recycling structures.