Lithium-Ion battery technology has played a big role in the advancement of EVs. Without these types of batteries, we wouldn’t have the modern EV segment. It is the same growth trajectory that we initially saw in the smartphone segment. Which also owes its current state to modern batteries. That can power devices all day long, without compromising on safety.
Safety is just one aspect that makes Lithium Ion batteries popular. Another aspect is their ability to support fast charging. Today, smartphone batteries can be easily charged with high-speeds chargers. That goes as high as 100W and more. We use power wattage as a measure of speed. Because in batteries, charging speeds are only limited by the power input.
This phenomenon can be easily witnessed in the EV segment as well. Where modern EV’s can support DC fast charging with power inputs as high as 350Kw. This is why they have become the preferred choice for EV manufacturers. Who want a stable and long-term battery solution that can safely charge at high speeds. To help customers get over their range anxiety.
As more and more manufacturers begin to adopt this battery standard. We have begun to see lithium-ion battery manufacturing reach scale. Which has had the intended benefit of lowering the cost of the batteries themselves. That has gone down from as high as $1100 per Kwh in 2010 to as low as $137 per Kwh in 2020.
At this price, batteries have finally reached a price point. Where we can begin to consider EV’s as a viable product for the Indian market. Which is pretty price-conscious and can only afford to spend so much. However, to sustain these rates, we need them to be totally manufactured in India itself. As the import duties are still high enough to make most modern EVs unaffordable.
Thankfully, there are lots of Indian companies that have heeded this call. And began manufacturing high-quality lithium-ion batteries in India itself. Not only to support the nascent Indian EV companies but also for export purposes. Here, we take a look at some of the top companies that are doing this at scale.
Exide is easily the biggest name in the Indian battery industry. It is not only the largest automotive battery maker in India. But also the fourth largest lead-acid battery maker in the entire world. Now, they have shifted their focus to the lithium-ion segment as well. With plans to set up a separate manufacturing facility for EV battery solutions. Although we don’t know how long the initial build-up might take. So, while we cannot count them as a current maker of lithium-ion batteries. We should still count them as one of the big entities to watch out for.
Amara Raja is one of the biggest names when it comes to industrial applications in India. The brand owns 7 different companies that offer world-class products for all sorts of industrial applications. From metal fabrication to infrastructure and electronics, and even food and beverages. You might recognize them through their best-selling automotive product, Amaron Batteries. They also make all sorts of industrial and commercial batteries, including lithium-ion ones. Not only for e-mobility solutions but also static storage.
Greenfuel is a well-established entity in the alternative fuel industry. With more than a decade-long history of providing high-quality components to all the top car manufacturers in the country. Their approach is less about creating individual products. And more about establishing industry standards. That includes multiple offerings for the e-mobility segment. As well as high-end industrial robotic applications. They have recently pivoted to include the capital-intensive battery swapping stations for EVs. Which will certainly play a big role in mass EV adoption.
Sanvaru is an important entity in the energy segment. As they offer energy storage solutions for almost every stage of power production. From stationary batteries for solar and industrial storage. To critical power backup systems in telecom, robotics, and other industries. As well as last-mile connectivity with e-mobility solutions. They even offer their own battery management system for all sorts of energy configurations.
RCRS is a well-known name in the lithium-ion battery segment. With multiple offerings in both the smartphone and entry-level automotive segments. They make battery modules for hybrid vehicles and e-rickshaws. As well as individual cylindrical lithium-ion cells. Their largest offering to date is a 30Ah module for e-bikes. The modules that they make aren’t as aesthetically pleasing as some of the other contenders on the list. Or as high capacity to be viable for modern EV standards. But their history of providing reliable energy solutions is enough to earn them a place on this list.
Telemax has been in the bulk battery segment for over 2 decades now. With a strong focus on industrial applications. Their batteries are usually used for low-power long-term solutions. Like power banks, laptops, solar street lights, CCTV cameras, medical equipment, and more. Now, they have also started offering lithium-ion batteries for e-mobility as well. With a focus on smaller modules for e-bikes and scooters.
Euclion Energy is another well-known name in the custom battery manufacturing segment. Their products can be easily found in lots of low-power solutions. From laptops and smartphones to medical equipment and even drones. These days they are also focusing heavily on e-mobility solutions. By making lithium-ion batteries for e-rickshaws and e-bikes. Even though these are mostly low-capacity solutions. We can expect them to play a big role in making lithium-ion more mainstream.
Bharat Power Solutions is a trusted manufacturer and wholesaler of lithium-ion batteries. They also deal with other formulations of batteries in various shapes and sizes. Their own modules are generally sold under the brand name INTRINSIC. While they also provide solutions from other popular battery makers like Euclion. You can source all types of modules from them. From small-size packs for e-rickshaws to large-scale power packs for industrial applications.
Ensol makes lithium-ion batteries for all sorts of e-mobility solutions. From e-rickshaws and e-cycles. To golf carts, scooters, and even full-scale EVs. Most of their solutions are low-powered, with the highest pack rating at around 200Ah. They also offer lithium-ion storage solutions for green energy applications. From solar lanterns and street lighting. To off-grid home applications and even industrial utilities.
Manikaran is an energy solutions conglomerate. That has been operational for more than a decade in the power, coal, and gas segments. They offer power and gas trading solutions on an industrial scale. And are actively working towards creating a large-scale lithium refinery for future needs. While their products aren’t present in the market at the moment. We believe they will play a big role in the lithium-ion battery industry in the coming future.
These were just some of the players in the lithium-ion market. There are other companies as well that are working towards making lithium-ion batteries even more affordable. And we expect this list to grow as renewable technologies become more mainstream.
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