IOC, Israeli firm form JV to to manufacture metal-air batteries for EVs

State-owned Indian Oil Corporation (IOC) and Israeli battery developer Phinergy on Wednesday formalised a joint venture to manufacture ultra-lightweight metal-air batteries for electric vehicles (EVs), a venture that got its first customers in Maruti Suzuki and Ashok Leyland.

The equal joint venture will replace lithium with aluminum to make batteries that will charge faster and give a longer run.

This will “help overcome most of the challenges facing EVs including range anxiety,” IOC Chairman S M Vaidya said.

“Al-Air technology will help us overcome most of the current challenges for e-Vehicles and address most of the potential customers’ pain-points, including range anxiety, higher cost of purchase, and safety issues.