India’s Himadri Speciality Chemical said on Wednesday it would set up a facility to make lithium-ion battery components for an estimated project cost of 48 billion rupees. ($576.12 million).<\/p>\n
Lithium-ion batteries, which power electric vehicles (EV) and used to store energy, are expected to play a key role in India’s goal to be a net zero emitter of greenhouse gases by 2070.<\/p>\n
The country is expected to see sales of more than 10 million EVs a year by 2030, rising more than ten fold from the last fiscal year, according to a recent annual Economic Survey.<\/p>\n
Himadri Speciality was among at least a dozen Indian and foreign companies which participated in the government’s auction this year of some newly found lithium blocks.<\/p>\n
The plant would have a capacity of 200,000 million tonnes per annum, the company, which makes specialty chemicals for textile, oil and gas, said in a stock exchange filing.<\/p>\n
The project cost would be borne largely from internal accruals and the balance from debt, it added.<\/p>\n
Shares of Himadri Speciality Chemical have so far gained nearly three-fold this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
India’s Himadri Speciality Chemical said on Wednesday it would set up a facility to make lithium-ion battery components for an estimated project cost of 48 billion rupees. ($576.12 million). Lithium-ion batteries, which power electric vehicles (EV) and used to store energy, are expected to play a key role in India’s goal to be a net zero emitter of greenhouse gases by 2070. The country is expected to see sales of more than 10 million EVs a year by 2030, rising more than ten fold from the last fiscal year, according to a recent annual Economic Survey. Himadri Speciality was among […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-621464","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/621464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=621464"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/621464\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=621464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=621464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=621464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}