Neuron Energy, based in Mumbai, plans to invest Rs 500 million in the lithium-ion (Li-ion) battery pack segment. The investment will include an allocation of Rs 350 million for working capital financing and Rs 150 million in equity from the promoters and strategic partners. Further, the company intends to backward integrate the raw material storage and production with a contract manufacturer in the future. The company currently has a monthly production capacity of 6,000 battery packs through its contract manufacturer.
Recently in December 2022, Amara Raja Batteries Limited announced an investment of Rs 95 billion over the period of next ten years in Telangana to establish Li-ion battery research and manufacturing facilities. The company aims to establish a lithium cell gigafactory with an ultimate capacity of up to 16 GWh and a battery pack assembly unit with a capacity of up to 5 GWh.
In November 2022, Birla Carbon, a carbon black solution manufacturer commenced a collaborative project to develop biocrude-derived graphite for Li-ion batteries. To develop and scale up the production of biocrude-derived graphite, the company has collaborated with NC State University, the National Renewable Energy Laboratory, Ensyn, the Battery Innovation Center, and Yale University.