Mahindra & Mahindra Ltd (M&M) has announced that it is collaborating with LG Chem, Korea’s leading manufacturer of advanced batteries, in the field of advanced lithium-ion battery technology. The companies plan to jointly support electric vehicle (EV) revolution in India through the partnership.
According to this collaboration, LG Chem will develop a unique cell exclusively for India application and will also supply Li-ion cells based on NMC (nickel-manganese-cobalt) chemistry with high energy density. These cells will be deployed in the Mahindra and SsangYong range of EVs, the company noted. LG Chem will also design the Li-ion battery modules for Mahindra Electric, which in turn will create battery packs for the Mahindra Group and other customers.
M&M said that in keeping with the investment plan already announced by the company last year, a battery module plant is also under development. The plant will have a capacity of half a million battery modules per annum and will also house a battery module pack line. Additionally, the entire facility for both module and pack is expected to go into production in the last quarter of FY 2020, the company added.
Hemant Sikka, President and Chief Purchase Officer, M&M, said the EV revolution is taking the country by storm and the company is happy to be at the forefront of this change. This association with LG Chem will give Mahindra the requisite access to advanced battery technology and will also enable it to deliver globally-competitive products, he added. Sikka also said that the company is preparing to scale up in accordance with its expansion plans, in order to meet demand expected in the near future. We look forward to a strong and fruitful association with LG Chem, he noted.
The company is honoured to have a collaboration with M&M, noted JH Kim, Executive Vice President, Energy Solution Company, LG Chem. He said LG Chem expects this collaboration to be a memorable moment in putting the commercialisation of EVs forward in India market, in the field of advanced Li-ion battery technology.