New Delhi: Leading automotive electrical components manufacturer Lucas TVS on Tuesday signed an agreement with 24M Technologies, Inc., developer of the next generation lithium-ion battery, to construct one of the first Giga factories in India based on SemiSolid platform technology.
The first plant with world-class safety standards will be set up in Thervoy Kandigai, Gummidipoondi, near Chennai, a joint statement 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 statement, 24M’s SemiSolid platform has significant 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 enables the production of a thicker electrode, increasing 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 benefits, the SemiSolid electrode eliminates the use of binders and thereby enables the simplest and most efficient recycling of rejected or end of life cells. These advantages make it a preferred 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 delighted 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.