Lohum to invest Rs 1,000 crore in next-gen manganese-based Li-ion batteries
Lohum plans to establish a 20 GWh capacity within the next three years, supported by a Rs 1,000 crore investment that will also drive advancements in battery technologies.
New Delhi- Lohum Cleantech Pvt. Ltd., a Manufacturer of Li-ion battery packs and recycler of battery components plans to invest INR 1,000 crore (135million USD) over the next three years to develop and manufacture next-generation 'Manganese-rich' LMFP Lithium-ion batteries. This initiative aims to establish a production capacity exceeding 20 GWh. The company has also brought on board Chaitanya Sharma, a Tesla veteran, to contribute to the development of future manganese-based lithium-ion batteries.
The critical minerals recycling company previously entered into a Memorandum of Understanding (MoU) with the Tamil Nadu government to establish a comprehensive facility for recycling and producing Cathode Active Materials within the state.
The next-generation LMFP (Lithium Manganese Iron Phosphate) battery technology not only ensures higher safety and longer range for electric vehicles compared to traditional options but also comes at a significantly reduced cost. Leading electric vehicle manufacturers such as Tesla, BYD, and CATL have placed substantial investments in LMFP, highlighting its promising future in the industry.
India's substantial manganese reserves are strategically positioned to safeguard the country's lithium-ion battery supply chain from external disruptions, thereby bolstering its energy security.
Mr.Rajat Verma, Founder and CEO of Lohum, said, "Developing LMFP technology will enable LOHUM to accelerate the Energy Transition by making available higher energy densities, increased cost-effectiveness, higher safety, sustainability, and thermal adaptability of batteries to climate change. LMFP will play a pivotal role in supporting India's EV market and is a key stepping stone to India's Energy Independence.
