India's ministry of science and technology announced last week that the country's central research institute of chemical (CECRI) has signed a memorandum of understanding with Raasi solar power company, the latter will use CECRI establishing production base of lithium ion battery technology in Bengaluru.This is the first lithium ion battery production project in India.
CECRI says its researchers have developed a new lithium-ion battery technology and set up a demonstration facility in chennai.Its lithium-ion battery technology has acquired global intellectual property rights. It can reduce the production cost of lithium-ion batteries and can be used for large-scale production and commercialization.
Raasi said it hopes the project will effectively reduce the cost of making lithium-ion batteries, replacing lead-acid batteries.The group also plans to build lithium-ion batteries for solar roofs that can last up to 25 years.
HarshVardhan, India's minister of science and technology, said: "India is one of the largest importers of lithium-ion batteries, with annual imports of nearly $150m, usually from China, Japan and South Korea.The project is in line with the government's vision of manufacturing in India and will reduce foreign exchange outflows.