Mumbai, Sept 15:
US-based technology provider C4V has secured a contract from EV maker Omega Seiki Mobility to supply next-gen Lithium-Ion batteries.
As a part of the contract, C4V will coordinate to supply high-performance 1.16 Gigawatt hours of Li-ion batteries from its cell manufacturing joint ventures, a company release said on Wednesday.
C4V is currently part of two Gigafactories being set up in New York and Townsville, Australia respectively. Part of this contract is also expected to be fulfilled by the New York based facility, it said.
Besides, the company is also looking to participate in the government’s Production-linked Incentives Scheme (PLI) with a “strong vision” to set up the cell manufacturing ecosystem in the country, C4V said.
The Binghamton (New York)-based C4V is an intellectual property company with expertise and patented discoveries in Lithium-Ion battery composition and manufacture.
“We are proud of our association with Omega Seiki Mobility for this essential supply line project that will power their high quality EVs for years to come,” said Clifford Olin, Chief Business Development Officer at C4V.
Its battery solution is based on the technology that eliminates the need for Cobalt and Nickel enabling a high performing, cost effective, safe and environment-friendly energy storage offering, according to the release.
“C4V has recently signed a MOU with the Karnataka government for a proposed Li-ion Cell manufacturing joint venture, with an investment size of Rs 4,015 crore. This further provides evidence of our strong commitment to support domestic manufacturing of Li-ion Battery Cells in India,” said Kuldeep Gupta, Vice President for strategic Partnerships, C4V.
According to him, lithium-ion batteries are getting a lot of traction in the industry due to low battery prices and emerging industries such as electric vehicles and energy storage systems (ESS).
“To make EV a resilient sector, we are focussed on strengthening the Indian market with updated and innovative technology solutions,” Olin added.
Uday Narang, Founder, Omega Seiki Mobility said, “we are excited to enter into a long-term supply agreement with our partner C4V. With this association, we will not only be able to deliver the latest battery technology but it will also help us in reducing the cost of batteries and, in turn, of the vehicles.”
Besides, C4V’s upcoming facility in India will also help Omega Seiki increase its levels of indigenisation even further, he said. (PTI)
Mumbai, Sept 15: