LNJ Bhilwara Group, Replus Engitech partners for 1 GW Li-ion battery plant in Pune
LNJ Bhilwara Group, a multi-diversified conglomerate has announced that it has ventured into the lithium-ion (Li-ion) battery business through its private promoter entities.
It added that the group has arrived into a joint venture with Replus Engitech, a Pune-based company into advanced energy storage products and solutions, to institute a 1-GW plant for Li-ion battery modules and packs, battery management systems, energy management systems, and containerized battery energy solutions.
The greenfield plant in Pune will be operational by mid-2022, with a capacity of 1 GW in Phase 1, said Hiren Pravin Shah, Executive Director, and CEO, LNJ Bhilwara-Replus venture.
He added that in Phase 2, the company targets to increase the capacity to 5 GW by 2024 and would finally target to be amongst the top 10 suppliers globally.
"We are eyeing to build a strong presence in the energy storage domain and contribute to Make in India through this venture. The new business will also leverage LNJ's global presence to spread its wings in the future," said Riju Jhunjhunwala, vice-chairman, The LNJ Bhilwara Group.
The LNJ Bhilwara-Replus venture will be offering technology and products in Li-ion chemistries for the project.