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Electric vehicle start-up Simple Energy has signed an agreement with US-based C4V, a lithium-ion battery technology company, for setting up a lithium-ion cell manufacturing ecosystem in India.
“Simple Energy is leading the Indian EV industry by vertically integrating the entire value chain, thus bringing better synergy and higher localisation. By partnering with C4V, we will consolidate cell supply, which is a vital component for us. This strategy will also make us more self-reliant and reduces our dependency on imports,” Shreshth Mishra, Co-Founder, Simple Energy said in a statement.
Lithium-ion battery cells are the central unit of any electric vehicle. In addition to leading the build-in India initiative, this partnership seeks to utilise cells with industry-leading safety, higher energy density than LFP, faster charging, and a longer life cycle based on C4V’s patented technology.
C4V is expected to bring along the most advanced lithium-ion battery technology which will power Simple Energy’s upcoming two-wheelers and four-wheelers. C4V is currently in the final stages of commissioning its iM3NY Gigafactory located in upstate New York, the USA targeting production over the next few months in 2022.
Reduction in import burden
“Empowering local manufacturing will not only reduce the burden of import duties but also ensure the timely supply of quality batteries in the EV space boosting the confidence of OEMs in the electric mobility market. C4V is looking forward to this strategic collaboration, thereby supporting the development of the EV industry in India,” said Kuldeep Gupta, Vice President (Strategic Partnership), C4V.
Simple Energy’s EV factory near Hosur, which will have an annual production capacity of up to 1 million units, is currently getting ready for mass manufacturing and will be operational in the coming weeks. The company has also commissioned its second plant, which will be spread across 600 acres and have a capacity of 12.5 million units annually, at Dharmapuri in Tamil Nadu.
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