Indian aluminum supplier Hindalco Industries is reported to have signed an MoU with American battery manufacturer Charge CCCV (C4V) for the supply of coated battery foils and structural components for the manufacturing of lithium-ion batteries.
As per the agreement, Hindalco will be up to 2,000 tons of battery-grade aluminum foils to C4V for a period of five years. The strategic collaboration also includes joint development of material technologies and related know-how, according to media reports.
It is to be noted that Hindalco is all set to commission a state-of-the-art battery foil manufacturing facility in the Indian state of Odisha, with a production capacity of 25,000 tons at an investment of ₹ 800 crores.
"The agreement also outlines a strategic roadmap encompassing collaboration on materials and joint technology development, aligning with the evolving demands of the Indian EV market", said the company's press release, as reported by media.
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"This multifaceted approach promotes local manufacturing and expertise, and is expected to strengthen India's self-reliance in EV battery technology", it added.
In close collaboration with OEMs, Hindalco aims to co-develop critical components for energy storage, marking a significant shift to high-tech metal solutions. To enhance sustainable production, the upcoming factory will also be powered by a 25 MW solar power plant.
Commenting on the recent developments, Satish Pai, MD of Hindalco Industries, commented, "We are seeing a fast traction in battery materials demand, driven by an impressive outlook for EV and grid-based energy storage sectors".
"Raw material localization is critical in such strategic sectors. Investment in our new battery foil factory is a step in this direction", he added.
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