Gujarat-based manufacturer Renon India and Taiwanese EV giant Ahamani EV Tech have announced that the two companies have set up a joint venture to produce battery packs for the Indian automobile market. The new joint venture aims to provide reliable and cutting-edge technology battery packs with a higher lifecycle to automobile manufacturers to meet consumer needs for the EV market and to address issues related to energy and climate change.
It is to be noted that a joint investment of US $ 3.7 million has been made in JV Company to make customized battery packs. JVC is developing a battery factory in Surat, Gujarat with an initial capacity of 200 MW per year, which will expand to 1 GW in the next few years. In addition to offering advanced technology, the joint venture will also aim to tackle a number of battery-related challenges, including cost, energy density, lifecycle, charging time and safety, ensuring stable supply capacity, and effective recycling structures.
According to sources, Renon India says that this is our third venture in Sustainable Business from our group company. We see two and three-wheelers being the first to convert to electric and this creates a lot of opportunities for us to get into the market. We cannot have better partners than Ahmani, who gave his vast experience of 20 years in the electric vehicle field globally and has become his partner of choice for making reliable and high-tech lithium batteries for electric vehicles. The company's initial offerings on the product line will include 2-wheeler and 3-wheeler EVs in LFP (lithium ferrous phosphate) and NMC battery packs. As per industry requirements, we see India as leading the EV sector globally in the coming future and fully determined to be a catalyst in this growth.