Lucas TVS, 24M join forces to set up li-ion battery Giga factory in Chennai
Automotive electrical components manufacturer Lucas TVS has announced that it has signed an agreement with 24M Technologies, Inc., developer of the next-generation lithium-ion battery, to build one of the first Giga factories in India based on SemiSolid platform technology.
The first plant with world-class safety standards will be established in Thervoy Kandigai, Gummidipoondi, near Chennai, a joint declaration said.
Lucas TVS expects to build other plants throughout India to support the growing energy storage, electric mobility, and lead-acid battery replacement markets, it added.
"Lucas TVS believes in investing in next-generation technologies, which is why we chose to partner with 24M," T K Balaji, Chairman, and Managing Director, Lucas TVS, said.
"We are confident that the innovative SemiSolid TM platform technology will enable us to provide our customers affordable e-mobility, lead-acid battery replacement, and storage solutions with improved quality and best-in-class safety," he added.
The Chennai plant is expected to begin commercial production in the second half of 2023. Based on the aggressive targets set by the government in the renewable energy and electric mobility space, Lucas TVS plans to grow the capacity of the plant to a globally competitive scale of 10 GWh in two stages.
According to the declaration, 24M's SemiSolid platform has substantial benefits as compared to conventional manufacturing processes. The process, protected by more than 80 issued and 100 pending patents, offers a significantly simpler process flow reducing capital costs substantially.
The SemiSolid technology facilitates the production of a thicker electrode, enhancing 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, the release said.
In addition to these advantages, the SemiSolid electrode reduces the use of binders and thereby enables the simplest and most efficient recycling of rejected or end-of-life cells. These advantages make it an ideal choice for demanding customers in critical areas such as energy storage and electric mobility.
Lucas TVS will be the first to introduce SemiSolid lithium-ion batteries produced in India and specifically designed for the Indian market. The company plans to build products using different chemistries, in Pouch and Prismatic cell formats, with high energy density.
"We are pleased to partner with a market leader like Lucas TVS with over 60 years of performance track record as a leading provider of electromagnetic solutions to the mobility market," Naoki Ota, Chief Executive Officer, 24M, said.
"Our innovative SemiSolid TM technology and ongoing R&D investments will support Lucas TVS's ambition to become a leader in the energy storage space for mobility, lead-acid battery replacement, storage, and grid-scale markets in India," he added.