Electric Vehicle (EV) Battery Manufacturers In India [2023]

By 2030, India wants to have only electric vehicles on the road. The Indian government has announced a plan to roll out 10,000 electric buses and 50,000 electric rickshaws in the next years as part of the broad adoption of EVs. Environmental concerns and the anticipated short-term decline in the number of fuel-powered vehicles also draw producers of electric vehicles. Manufacturers of lithium-ion batteries are benefiting as the automotive sector booms due to EVs. Also, there is a growing need for lithium-ion battery manufacturers.

Lithium-ion batteries are the most pricey part of electric vehicles, hence it is projected that their use would rise. The cost of EVs is 40–50% accounted for by Li-ion batteries. Let's examine the leading Lithium-Ion Battery Producers in India.

HBL Power Systems

For the production of prismatic lithium-ion cells and batteries, HBL Power Systems has started up its factories. With the help of Lithium-Ion Batteries and its extensive domain expertise in research, design, and development of battery technologies, HBL offers practical, cost-efficient solutions for vehicle electrification. HBL has a facility to create colored Lithium-Ion batteries and cells. Since April 2020, the share price of HBL has increased by 235%.

Lithium-Ion Battery Gujarat Private Limited (TDSG)

The first lithium-ion battery production facility in India, TDSG, was established in Gujarat by Suzuki Motor Corporation, DENSO Corporation, and TOSHIBA Corporation. In Gujarat, they want to produce and provide Lithium-Ion Batteries to Maruti Suzuki and Suzuki Motor. Over an eight-year period, the joint venture companies will invest close to INR 30K–50K Cr. The largest lithium-ion battery production facility in the world is reportedly the TDSG plant, which will be built in Hansalpur, Gujarat. The Unit is seen as an effort to get into the enormously promising market that is rising in India. Lithium-ion batteries for the future electric vehicle built on the Maruti Wagon R will come from TDSG.

JSW Energy

JSW Energy, situated in Mumbai, is preparing to introduce EVs soon. The business intends to construct a sizable battery production unit just for this project. 2019 saw the announcement by Bharat Heavy Electricals Ltd. that it would produce and market ISRO's lithium-ion cells in India. In Gujarat, Tata Chemicals Ltd. intends to establish a Li-ion cell manufacturing factory. According to reports, well-known corporate organizations like Reliance, Adani, Mahindra, and Hero are also competing to establish Lithium-ion battery production facilities in India. As a result, it is obvious that India would shortly reduce all imports of this crucial EV component.

Loom Solar – Energy Storage

Loom Solar has added lithium batteries to its list of available products. With the 6Ah to 100Ah range now available to the consumer market through retail channels and online marketplaces, it becomes the first lithium battery manufacturer to do so. In this B2C initiative, customers can benefit from the same platform for home applications. Loom Solar has worked on product integration and specialized designs for the growing lithium battery market through ongoing research and innovation.

Hyundai – EV

Hyundai, one of the top automakers in India, has made the switch to electric driving with the release of the Kona, a high-end electric vehicle. For the development of batteries, the business has worked with IonQ, a maker of quantum computers. The partnership's main goal is to increase the lithium batteries' capacity, strength, and safety for usage in electric vehicles.

Ola – EV

Ten Indian businesses have registered for the PLI battery manufacturing scheme, with Ola being one of them. One of the first taxi businesses to switch to an EV fleet was Ola. In 2017, Ola, a subsidiary of SoftBank, revealed ambitions to drive 1 million electric vehicles in India. Moreover, Ola Electric Mobility Pvt Ltd, a newly established firm, announced plans to rent out electric vehicles, including automobiles, buses, and two-wheelers. driving partners.

Maruti Suzuki

Suzuki, a Japanese automaker, has a subsidiary called Maruti Suzuki. In India, the firm sells hatchbacks, sedans, motor utilities, and sport utility vehicles.In order to expand its lineup of hybrid vehicles, the business intends to buy lithium-ion battery packs from a recently established joint venture (JV) with Toshiba and Denso.It is a little enterprise that only serves 20,000 hybrid vehicles a year. The chemical makeup of the battery in hybrid vehicles differs from that of lithium-ion batteries.

Due to logistical and operational challenges brought on by the Covid-19 pandemic, the project's initial phase was delayed by a few months.As a result, the corporation decided to postpone preparations for the project's second phase.