LIB to Supply 50,000 Li-ion Batteries to VoltUp by 2024

LIB to Supply 50,000 Li-ion Batteries to VoltUp by 2024

A manufacturer of lithium-ion batteries, LIB, has joined hands by way of a major contract manufacturing deal with VoltUp, a Battery-as-a-Service (BaaS) start-up. The agreement will pave the way for LIB to provide 50,000 lithium-ion batteries in 2024. This will be followed by an additional 500,000 batteries over the span of the next three years. LIB will be responsible for providing VoltUp with modular batteries designed by its in-house team for electric two wheelers as well as three-wheelers.

The specially designed batteries have been approved for AIS 156 Phase 2.

Sudharshan Shelgaonkar, CEO of LIB, stated, “This agreement with VoltUp underscores our mission to power the future of e-mobility in India. Our expanded manufacturing capacity will ensure the delivery of world-class, innovative batteries to meet the rising demand in the EV sector. Our advanced reliability testing facility along with the vastly experienced R&D team working on cutting edge technologies like IoT, robotics and telematics is further expected to benefit the industry in rolling our industry leading products.”

Presently, the manufacturing abilities of LIB are close to 1 GWh. The firm has set its sights on augmenting capacity to a massive 3 GWh by 2025.