Schedule a Call Back
Hindalco Industries to invest Rs 800 cr in new battery foil plant in Odisha
Industry News- Dec 12,23
The new plant will augment the company's manufacturing capacity for high-quality aluminum foil, essential for rechargeable batteries, to cater to the rapidly expanding market for electric vehicles (EVs) and energy storage systems.
Hindalco Industries witnessed a surge of over 3% in its shares, reaching a 52-week high of Rs 538.50 on December 12, following the company's announcement of establishing a battery foil manufacturing facility in Odisha.
The company is set to invest up to Rs 800 crore in the new battery foil plant, slated for commissioning by July 2025. The initial production target for the plant is 25,000 tonnes of the resilient product crucial for Lithium-ion and Sodium-ion cells.
Strategically located alongside a 25 MW solar power plant, the factory can tap into additional solar energy from a 400 KV National Grid connection. This initiative aligns with the government's green agenda, aiming to reduce carbon emissions and foster sustainable growth.
Hindalco Industries' move to establish the battery foil manufacturing plant is in sync with its broader strategy to capitalise on the burgeoning electric vehicle (EV) market. The company is actively collaborating with original equipment manufacturers (OEMs) to co-develop critical components such as battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. Many of these components are being designed and developed for the first time in India.
Satish Pai, Managing Director of Hindalco Industries, highlighted the rising demand for battery materials driven by the optimistic outlook for the electric vehicle and grid storage sectors. Emphasising the importance of localising raw materials in strategic sectors, Pai stated that the investment in the new battery foil mill is a significant step toward building a self-reliant India.
The new plant will augment the company's manufacturing capacity for high-quality aluminum foil, essential for rechargeable batteries, to cater to the rapidly expanding market for electric vehicles (EVs) and energy storage systems.
Related Stories
Policy Regulation
Capital-intensive industries drive employment growth in India: Goldman Sachs
India’s manufacturing transformation is being fuelled by reforms, including the Production-Linked Incentive (PLI) schemes, which have played a pivotal role in increasing domestic production, foste..
Read moreAuto & Auto Components
JSW Group confirms Rs 400 billion EV project will stay in Odisha
The original plan involved setting up an EV vehicle and component manufacturing plant in Naraj, Cuttack district, and a copper smelter and lithium refinery in Paradip, Jagatsinghpur district.
Read moreOther Industrial Products
Tata Steel commissions India’s largest blast furnace at Kalinganagar
With a total investment of Rs 270 billion, the Phase II expansion at Kalinganagar will take the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA.
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
