IOC plans aluminium-air batteries factory
Having acquired stake in Phinergy, an Israeli battery developer of ultra-lightweight metal-air batteries that can be used in electric vehicles (EV), Indian Oil Corporation (IOC) is in talks with a few governments for setting up a factory for aluminium-air batteries. While the investment details are still being worked out, the proposed factory is likely to be set up in Chennai because of the existing automotive ecosystem and commissioned by year end.
“We are looking to set up a factory in India to manufacture aluminium-air batteries for electric vehicles and stationary applications and facilitate development of eco-system for aluminium-air technology-based batteries. Since aluminium is naturally available in India and its extraction and recycling technologies are also very well established, this technology may be a suitable alternative for the present lithium-based batteries,” said R Sravan S Rao, executive director & state head, Telangana and Andhra Pradesh. While, the location of the proposed factory is yet to be decided, sources in the know said it could be located in Chennai.
