Hindalco to Set up Battery Foil Manufacturing Facility in Odisha with Rs 800 Cr Investment
Mumbai: Hindalco Industries, one of the leading aluminium rolling and recycling companies in the world, has decided to expand its manufacturing capacity of fine quality aluminium foil that is used in rechargeable batteries to serve the rapidly growing market for electric vehicles (EVs) and energy storage systems. The company is investing Rs.800 crore to build [...]
Mumbai: Hindalco Industries, one of the leading aluminium rolling and recycling companies in the world, has decided to expand its manufacturing capacity of fine quality aluminium foil that is used in rechargeable batteries to serve the rapidly growing market for electric vehicles (EVs) and energy storage systems. The company is investing Rs.800 crore to build a new plant near Sambalpur in Odisha that will initially produce 25,000 tonnes of the resilient product which forms the backbone of Lithium-ion and Sodium-ion cells.
By 2030, demand for battery grade aluminium foil in India is expected to grow manifold to 40,000 tonnes, primarily driven by mushrooming growth in gigafactories for advanced cell manufacturing, the company said in a press release.
Hindalco has already achieved the technology breakthrough of manufacturing fine quality battery foils at its Mouda unit in Maharashtra. The Mouda unit is currently in the process of qualifying with Lithium-ion cell manufacturers in India, Europe and the United States.
The new unit in Odisha will further augment capability to supply material to Gigafactories across the world, the company said.
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