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Indian Oil, Panasonic Energy enter pact to make lithium cells
Thehindubusinessline
·
1y ago
Medial
Indian Oil Corp, India's top refiner, has partnered with Panasonic Energy to establish a joint venture that will manufacture lithium-ion cells within the country. This collaboration aims to meet the increasing demand for lithium-ion batteries, which are crucial for electric vehicles and energy storage. By forming this joint venture, both companies are positioning themselves to tap into India's growing electric vehicle market, which is projected to reach over 10 million EV sales annually by 2030. This move aligns with India's goal to become a net zero greenhouse gas emitter by 2070.
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PLI Should Focus On EV Cells Manufacturing, Not Batteries: GTRI
Inc42
·
11m ago
Medial
The Global Trade Research Initiative (GTRI) has recommended that the production linked incentive (PLI) scheme should prioritize the production of electric vehicle (EV) cells or lithium-ion cells rather than batteries. GTRI states that the Indian government should allow the domestic EV sector to grow organically without heavy reliance on incentives, in order to prevent India from becoming dependent on China for EV manufacturing. GTRI also suggests investing in battery recycling infrastructure and supporting clean energy sources for EV charging stations.
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Ola Electric to invest $100 million in gigafactory
Economic Times
·
1y ago
Medial
Ola Electric, an IPO-bound company, plans to invest $100 million in building its gigafactory for lithium-ion battery cells. The investment will be used for the initial phase of setting up 1.5 GWh of cell manufacturing capacity. Ola Electric aims to have its own battery cells in its electric scooters by next year, with plans to expand capacity to 5 GWh. The company recently received certification for the battery cells and is also working on solid-state batteries. Ola Electric will likely supply cells to other electric two-wheeler makers and renewable energy firms.
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Indian Oil draws up green hydrogen fuel retail network plan
Livemint
·
1m ago
Medial
Indian Oil Corp. (IOC) plans to establish a nationwide green hydrogen fuel retail network as part of a $30 billion investment to achieve net zero emissions by 2046. The initiative will replace grey hydrogen with green hydrogen for internal use in refineries and cater to growing mobility demand for green hydrogen fuel cells in India. The strategy underscores Indian Oil's commitment to sustainable energy solutions and expanding its role in the green hydrogen market.
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India looks east to this new ally to ease China’s grip on EV batteries
Livemint
·
1m ago
Medial
India is exploring ties with Japan to reduce reliance on China for EV batteries and critical minerals. Major Japanese firms like Panasonic and Mitsubishi Chemicals are in India to explore partnerships. This collaboration aims to diversify the supply chain for lithium-ion batteries essential for electric vehicles and energy storage. As China tightens export controls on critical minerals, these discussions signify India’s strategic move to secure its position in the global EV market.
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In the bag: Reliance inks pact for up to ₹3,620 cr worth of battery PLI | Company Business News
Livemint
·
5m ago
Medial
Reliance New Energy Battery Ltd, a unit of Reliance Industries Ltd, secured a production-linked incentive (PLI) agreement worth ₹3,620 crore from the Indian government to establish 10 GWh of advanced chemical cells (ACC) manufacturing capacity. This initiative is part of a broader ₹18,100-crore PLI scheme aimed at enhancing India’s electric mobility and battery storage ecosystem. The scheme overall targets achieving 50 GWh total manufacturing capacity, with Reliance and other companies already securing portions of this incentive.
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GM’s Final EV Battery Strategy Copies China’s Playbook: Super Cheap Cells
Wired
·
25d ago
Medial
General Motors is set to manufacture low-cost lithium iron phosphate (LFP) battery cells in the U.S., starting in 2027. This strategy is part of a three-pronged approach to power its electric vehicle lineup. Initially, GM will use imported LFP cells until U.S. production begins. LFP technology is favored due to its affordability, marking a shift from GM's previous focus on nickel-manganese-cobalt-aluminum cells. This move could accelerate the availability of affordable EVs in the U.S.
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Panasonic selects 12 startups as part of 1st cohort of "PANASONIC IGNITION" Corporate Accelerator program in partnership with 100X.VC
Startup News FYI
·
1y ago
Medial
Panasonic Life Solutions India (PLSIND) and Panasonic Corporation have announced the shortlist of 12 startups for the 'Panasonic Ignition' Corporate Innovation accelerator program, in collaboration with 100X.VC. The program aims to mentor, guide, and fund startups in the field of Energy Management for commercial spaces. The shortlisted startups will participate in a three-month program, receiving support and resources from Panasonic and 100X.VC teams. The final winner will be announced in March 2024.
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China's JinkoSolar to ink pact with Saudi's PIF for renewable power facility
VCCircle
·
1y ago
Medial
JinkoSolar, a Chinese solar company, has announced plans to partner with Saudi Arabia's sovereign wealth fund and a local renewable firm to build a solar cell and module manufacturing facility. The new facility, expected to require an investment of $1 billion, aims to reach an annual production capacity of 10 gigawatts for high-efficiency solar cells and modules. The move comes as Saudi Arabia seeks to achieve net-zero emissions by 2060 and expand its renewable energy capacity to between 100 gigawatts and 130 gigawatts by 2030.
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’Tesla’s loss, not India’s’: Ola founder Bhavish Aggarwal on Elon Musk’s Indian market pullback
Livemint
·
1y ago
Medial
Indian ride-hailing giant Ola's founder and CEO, Bhavish Aggarwal, stated that Tesla's withdrawal from the Indian market is a loss for the automaker, not India. He commented that India's EV and lithium industries are growing rapidly, making it too late for Tesla to enter the market. Bloomberg reported that Tesla has not responded to inquiries from Indian officials and does not plan to invest fresh funds in the country. The Indian government may now focus on domestic players like Mahindra & Mahindra and Tata Motors to boost EV production in the country. Ola is set to make its market debut soon with its electric vehicle startup.
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YPF Eyes Sale of Lithium Unit as Focus Narrows on Shale Ramp-Up
Livemint
·
11m ago
Medial
Argentine state-owned oil company YPF is considering selling its lithium unit, YPF Litio, as part of its efforts to streamline investments into the Vaca Muerta shale patch. YPF Litio has been exploring for lithium resources in Argentina's lithium triangle, alongside Pan American Energy Group and Techint Group. The company's focus has shifted to ramping up production in the Vaca Muerta. YPF has already divested non-shale fields and is in talks to sell more, as well as its fuel businesses in Chile and Brazil and a stake in a natural gas distributor in Buenos Aires. YPF Agro, a profitable agriculture business, may become a standalone unit like YPF Luz, a power producer.
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