IOCL to set up one GW electric vehicle battery plant
Thursday, 29 Aug 2019 Share this on :
The Indian Oil Corporation (IOCL) will be setting up one GW plant to make batteries used for running electric vehicles (EVs). IOCL will partner with an overseas start-up using a non-lithium ion raw material that is locally available.
The company is working on a solution which can be manufactured 100 percent indigenously. The proposed battery plant will use chemistries which are India-centric, whose raw material is easily available, recycling technology is extremely mature and recycling industry is well established.

The battery plant will be set up through a special purpose vehicle (SPV) formed by IOCL and the overseas entity. The location of the plant is yet to be decided.

The one GW scale facility will be built in phases beginning with 25 MW or 50 MW and ramped up. It is to be commensurate with demand that is going to pick up in the country for e-vehicles and e-mobility.

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