Energy storage company NSure Reliable Power Solutions is setting up a lithium iron phosphate (LFP) cell manufacturing plant, to be used mainly in commercial electric vehicles, on the outskirts of Bengaluru which is expected to start pilot operations by January and the giga plant will be fully operational by November, with an initial investment of nearly Rs 1,100 crore, founder and chief executive Chandrakanth Ramalingam told DH.
“LFP is where commercial applications are predominantly moving due to the longer life cycle of the battery. The higher longevity makes it tougher to break even for personal-use vehicles.
