Schedule a Call Back
Graphite India invests Rs 50 cr in Godi India for advanced battery technologies
Industry News- Dec 06,23
The company has acquired technical expertise in cutting-edge technologies like sodium-ion and Solid-State batteries.
Graphite India, a leading producer of graphite electrodes, has finalised a transaction involving a cash consideration of Rs 50 crore to invest in compulsory convertible preference shares of Godi India, an EV battery manufacturer based in Hyderabad. This investment, on a fully diluted basis, will confer a 31% equity shareholding in Godi India.
Godi India, supported by the venture capital fund Blue Ashva Capital, focuses on advanced chemistry research and development to facilitate battery manufacturing for electric vehicles and supercapacitor-based energy storage systems. The company has acquired technical expertise in cutting-edge technologies like sodium-ion and Solid-State batteries.
The burgeoning electric vehicle market and the rising demand for energy storage systems underscore the favourable industry dynamics for battery cell and supercapacitor production.
Graphite India's Executive Director, Ashutosh Dixit, expressed enthusiasm about the strategic investment, stating it aligns with the company's strategy to diversify into advanced battery and energy storage system technologies. He highlighted Godi India's leadership in developing lithium-ion, sodium-ion, and solid-state batteries for global markets.
Mahesh Godi, Founder and Director of Godi India, emphasised the successful development of environmentally-friendly battery materials and components by their team of scientists and manufacturing experts. Godi India's battery applications target the rapidly growing electric vehicle and consumer electronics markets. Additionally, the company has ventured into supercapacitors for regenerative energy storage systems in various industries such as automobiles, trains, telecom towers, and power transmission grids. Mahesh Godi welcomed the partnership with Graphite India, acknowledging their expertise in carbon and electrode manufacturing, as well as their insights into synergistic technologies.
Source: Deccan Chronicle
Related Stories
Auto & Auto Components
Amara Raja signs Signs MoU with Piaggio for EV battery development and supply
Piaggio India has been at the forefront of the Electric 3-wheeler market and has introduced the country’s first and unique battery subscription model that makes the electric vehicle a lot more aff..
Read moreAuto & Auto Components
Battery Smart achieves 100,000 daily swaps on EV battery swapping network
With 1,100 stations now spread across 30+ cities in India, the company has emerged as the leading player in the battery swapping sector, surpassing 40 million cumulative swaps to date.
Read moreAerospace Defence
Deputy Air Chief inducts chaff manufacturing plant to cut import dependence
Established under the Make in India initiative, this facility will produce various chaff sizes for aircraft such as the Mirage 2000 and MiG 29.
Read moreRelated Products
Forklift Battery
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
Aatous International is a manufacturer and solution provider of a wide range of forklift battery.
Wrist Type High Voltage Alarm
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
‘KUSAM-MECO’ has introduced a new wrist Type High Voltage Alarm Detector - Model KM-HVW-289 having a wide sensing range from 1kV-220 kV AC.
Servotech Power Systems files 2 patents for energy management technologies
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
Servotech Power Systems, a leading manufacturer of EV chargers and solar solutions, has announced that it has filed two patents for innovative energy management technologies in order to facilitate gri Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
