The Indian electric vehicle start-up Simple Energy has signed a MoU with US-based battery maker C4V for setting up a lithium-ion cell manufacturing facility for cells in India.
This Partnership Between Companies aim to bring down the dependence on imports, and also this will help in creating battery cell in India and help Indian EV sector
C4V is expected to bring along its advanced lithium-ion battery technology ---lithium-ion battery cells are the central unit of any electric vehicle (EV)
This Will help to power upcoming two wheelers and four wheelers in India, C4V is currently in the final stages of commissioning its iM3NY Gigafactory located in upstate New York.
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The Simple Energy and C4V facility in India will come up over a 600 acre plot, where the former plans to build a second EV factory as part of its Phase 2 expansion plans
Simple Energy had already announced an investment of Rs 2500 crore on setting up its EV manufacturing plants in Tamil Nadu. Simple Energy is putting $150 million (roughly Rs 1136 crore) on the new lithium ion cell manufacturing unit.