US-based technology company C4V has secured a contract from New Delhi-headquartered EV manufacturer Omega Seiki Mobility to supply its next-generation of high-performance lithium-ion batteries from its cell manufacturing JVs. In April, the partners had signed an MoU to manufacture and introduce solid-state batteries in India.
As a part of the contract, C4V will coordinate to supply 1.16-gigawatt hours at an estimated value of over $163 million (over Rs 1,206 crore) of lithium-ion batteries from its manufacturing joint ventures.
The company says its battery solutions eliminates the need for Cobalt and Nickel enabling a high-performing, cost-effective, safe and environment-friendly energy storage offering.
Clifford Olin, chief business development officer, C4V said, “We are proud of our association with Omega Seiki Mobility for this essential supply line project that will power their high-quality EVs for years to come. Due to lowering battery prices and emerging industries such as EVs and energy storage systems (ESS), lithium-ion batteries are getting a lot of traction in the industry. To make EV a resilient sector, We at C4V are focussed on strengthening the Indian market with updated and innovative technology solutions.”
Kuldeep Gupta, VP – Strategic Partnership, C4V said, “In the constant endeavour to support the government of India in moving towards green environment and policies, C4V has recently signed an MoU with the Karnataka government for proposed lithium-ion cell manufacturing joint venture, with an investment size of Rs 4,015 crore. This further provides evidence of our strong commitment to support domestic manufacturing of lithium-ion battery cells in India.”
Uday Narang, founder, Omega Seiki Mobility said “We are excited to enter into a long-term supply agreement with our partner C4V. With this association we will not only be able to deliver the latest battery technology but also help us in reducing the cost of battery thus our vehicles. Besides, C4V's upcoming facility in India will also help us increase our levels of indigenisation even further. I am sure Omega Seiki Mobility is all set to revolutionise the India EV market with these new C4V batteries.”
Deb Mukherji, MD, Omega Seiki Mobility said “With sustainability at the heart of our strategy and an increasingly important requirement for our customers and consumers, we are delighted to be working with our partners to deliver the best technology via our products to the market. The cutting-edge lithium batteries of C4V will not only provide a solution to range anxiety but will also be value for money to our customers due to their long life and reliability. We hope to have a long and mutually beneficial business relationship with C4V.”
C4V is currently part of iM3NY and iM3TSV two giga-factories being set up in New York USA and Townsville Australia respectively. Part of this contract is also expected to be fulfilled by iM3NY. Furthermore, C4V is also aiming to participate in the Production-linked Incentives Scheme (PLI) launched by the government of India with a strong vision to set up the cell manufacturing ecosystem in the country.