India’s biggest car manufacturer is getting into the lithium-ion battery game in a big way — another sign that the EV revolution is set to hit the world’s second-most populous nation.
Indian publication MoneyControl has reported that Tata Motors’ sister company, Tata Chemicals, is looking at the possibility of manufacturing lithium-ion batteries very closely.
It cited two people ‘close to the matter’ as saying that Tata had already set aside land in Gujarat for a lithium-ion manufacturing plant, as the motor company sets about trying to create an EV ecosystem in the country.
It’s similar to what Hyundai is doing in the country, but this would be a major step for the country.
The Mumbai-based automaker, which has set up a dedicated EV business unit, is also working closely with other group companies such as Tata Power, Tata Consultancy Services (TCS), Tata AutoComp Systems and Jaguar Land Rover (JLR).
Earlier this month, president of the company’s electric mobility business, Shailesh Chandra, said the move to team up with other companies was aimed at establishing a base for EV as quickly as possible.
“We are talking to Tata Chemicals on lithium-ion cell manufacturing, working with Tata Power on providing us with EV charging infrastructure. We have to localise EV parts and that’s where Tata AutoComp is helping us,” he was quoted as saying.
Tata Motors is also reportedly working on the finance side, with Tata Capital set to devise financing solutions for consumers — a major hurdle in any EV adoption in India.
The EV push is also gaining support from the government, with it recently wiping out registration fees for electric vehicles.
This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Don’t miss a thing, subscribe now