Published on March 5th, 2018 | by Saurabh0
India’s Mahindra Partners With LG Chem For EV Batteries
March 5th, 2018 by Saurabh
Mahindra & Mahindra, one of India’s leading companies in electric mobility in India, is moving very aggressively towards grabbing a major share in the budding Indian electric cars market.
The Indian carmaker has announced a partnership with Korea’s LG Chem for the supply of high energy density lithium-ion cells. LG Chem will develop new cells exclusively for use in the Indian market. These cells would then be converted into battery packs to be used in Mahindra’s passenger segments vehicles.
LG Chem will supply battery cells to Mahindra Electric, a subsidiary of the Mahindra Group. This partnership will allow Mahindra Electric to further market these battery modules and packs to other automobile companies in India and abroad.
Mahindra is expected to use these batteries in hatchbacks and sedans, as well as SUVs. Some of these models are already available in petrol or diesel variants and will be converted into electric variants, and the company is also expected to launch completely new models in electric versions as well. Mahindra already offers the e-Verito sedan and e2o hatchback in the pure electric vehicles segment. It is expected to launch electric versions of its K100 hatchback as well as a couple of electric SUVs in the near future.
LG Chem has huge experience in the development and deployment of battery cells and packs for automobiles. It claims to be the leading supplier of batteries in the world to the electric mobility sector. The company has developed battery packs for version models of Audi, Hyundai, Kia, Volvo, Ford, Renault, and General Motors. LG Chem sees itself as a leader in the EV battery market, along with Panasonic and Samsung, and is expected to grab a 40% market share by 2020.
Mahindra Electric was reported to have been working on a battery production unit in India. It will now likely move forward in collaboration with LG Chem.