Mahindra & Mahindra and Korean battery manufacturer LG Chem have announced a collaboration in the field of advanced lithium-ion battery technology. It would be extensively incorporated in Mahindra and SsangYong range of electric vehicles.
LG Chem, Korea’s leading manufacturer of advanced batteries, is going to develop a unique cell that would be exclusively developed and used in India and will also supply lithium-ion cells based on NMC (Nickel-Manganese-Cobalt) chemistry with high energy density. Under this collaboration, the cells that will be developed will be deployed in Mahindra and SsangYong range of electric vehicles (EVs). LG Chem will also design Li-ion battery modules for Mahindra Electric, which in turn will create battery packs for the Mahindra Group and other customers.
Commenting on this announcement, Hemant Sikka, president and chief purchase officer, Mahindra & Mahindra said, “The electric vehicle revolution is taking the country by storm and at Mahindra, we are happy to be at the forefront of this change. This association with LG Chem will give us the requisite access to advanced battery technology and will also enable us to deliver globally competitive products.”
According to JH Kim, executive vice president in Energy Solution Compay, LG Chem: “LG Chem expects this collaboration to be one of the memorable moment for putting the commercialisation of EVs forward in India market.”
As part of the investment plan that was announced by Mahindra last year, a battery module plant is also under development. The plant will have a capacity of half a million battery modules per annum and will also house a battery module pack line. The entire facility, for both module and pack, is expected to go into production in the last quarter of FY 2020.
LG Chem is one of the world’s largest lithium-ion battery manufacturers with a significant market share in consumer, automotive and stationary applications. It is Korea’s largest diversified chemical company, which has operations in four areas: basic materials and chemicals, energy solutions, IT and electronic materials and life sciences. Mahindra Electric is India’s leading EV manufacturer with indigenously developed technologies. Its portfolio of electric vehicles include the e2o plus hatchback, eVerito sedan, the eSupro minivan and the electric rickshaw, the e-Alfa Mini.
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