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LOHUM, headquartered in Greater Noida, is set to invest approximately INR 2,000 crore over the next six years to establish a new plant in Krishnagiri, Tamil Nadu. The company has acquired around 65 acres of land and plans to commence production at its 20-GWh facility within 18 months. The plant will focus on producing Cathode Active Material (CAM) for battery manufacturing, starting with an investment of INR 400 crore in the first two years. LOHUM’s products will supply major battery manufacturers such as Ola, Exide, TVS, and Amara Raja. The facility will also handle the recycling of 20,000 tonnes of batteries annually, extracting valuable materials like cobalt, nickel, and lithium. Initially, the plant will produce 750 MWh of CAM, with plans to scale up to 20 GWh in phases, beginning with 5 to 10 GWh to support Gigafactories.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th August 2024 edition.. Get this issue or any of our editions by clicking here…
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