“C4V would bring know-how, patented technologies and R&D”
“C4V would bring know-how, patented technologies and R&D”
Electric vehicle maker Simple Energy has struck an initial deal with US-based battery technology company C4V (Charge CCCV) to build a $150 million lithium-ion cell manufacturing facility in the country, the company announced on Wednesday with.
The plant, with an initial capacity of 1 gigawatt hour (GWh) that can be scaled up to 5 GWh, is expected to be operational by the third quarter of this year, Shreshth Mishra, co-founder of Simple Energy, told PTI.
The cell manufacturing facility will be built on the 600-hectare site of the planned second electric vehicle manufacturing plant for which the company signed a pact with the Tamil Nadu government last November, he said.
The Bengaluru-based energy start-up presented its first e-scooter, Simple One, in mid-August last year. However, it has not yet started shipping its initial offering.
Lithium-ion battery cells are the central unit of every electric vehicle (EV).
“C4V has been working on battery and cell technology that is not dependent on rare earth materials for some time. Simple Energy and C4V will work together on the research and development of cell manufacturing that will make tomorrow’s battery packs safer and more powerful,” said Mr. Mischra.
C4V is currently in the final stages of commissioning its iM3NY Gigafactory in upstate New York and intends to start production in the next few months.
“Through the partnership with C4V, we are consolidating cell supply, which is an important component for us. This strategy also makes us more independent and reduces our dependence on imports,” said Mr. Mishra.
The two partners would work closely together as individual companies, with C4V bringing expertise in know-how, patented technologies and R&D, he said.
Alongside the India Integrated Initiative, this strategic partnership leverages cells with industry-leading safety, higher energy density than LFP (Lithium Ferro-Phosphate) batteries, faster charging and longer life cycle based on patented technology from C4V-based EV manufacturers, according to Bengaluru.
“We would be considering 1GWh capacity, which can be scaled up to 5GWh capacity, and given demand we would also look to expand capacity further if needed. The plant would be operational in the third quarter of 2022,” said Mr. Mischra.
In a statement earlier in the day, Simple Energy said its partner C4V is continuing its efforts to stabilize a comprehensive domestic supply chain in India, bringing with it the most advanced lithium-ion battery technology to power its upcoming two-wheelers and four-wheelers.
“C4V looks forward to this strategic collaboration, thereby supporting the development of the EV industry in India,” said Kuldeep Gupta, Vice President (Strategic Partnership) of C4V, in the statement.
Oil prices are skyrocketing and the heat is already being felt in the market, he said, adding, “Strengthening local manufacturing will not only ease the burden of import duties, but also ensure the timely delivery of high-quality batteries in the electric vehicle field.” and increase trust in Original Equipment Manufacturers (OEMs) in the electromobility market.”
