Hindalco Industries to invest Rs 800 crore in Odisha to set up battery foil manufacturing facility
Hindalco Industries announced its plans 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
- Dec 12, 2023,
- Updated Dec 12, 2023 1:51 PM IST
Aditya Birla Group company Hindalco Industries on Tuesday announced its plans 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, in a regulatory filing, said that it 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 Lithiumion and Sodium-ion cells.
Demand for battery grade aluminium foil in India is expected to grow manifold to 40,000 tonnes by 2030, primarily driven by mushrooming growth in gigafactories for advanced cell manufacturing.
“We are seeing a fast traction in battery materials demand, driven by an impressive outlook for the electric vehicle and grid storage sectors. Raw material localisation is critical in such strategic sectors,” Satish Pai, managing director, Hindalco Industries, said.
He further added that the company is thus making various investments in battery materials and technologies towards building Atmanirbhar Bharat. "Investment in this new battery foil mill is another such step in this direction," Pai stated.
Hindalco's 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.
Cell makers use high performance aluminium foils as a current collector for the cathode materials. The company said it is already developing such foils to raise the bar on mechanical strength, fine-tune the thickness and enhance surface characteristics of these advanced application foils. It added that it is working on new coatings on the battery foils that will boost performance by delivering better adhesion, lower resistance, and reduced corrosion. It will tap its robust R&D to provide tailor-made solutions for its customers.
Additionally, the company said it is working closely with original equipment manufacturers (OEM) to co-develop and make critical components like battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies, many of which are being designed and developed for the first time in India.
The new factory will be located alongside a 25 MW solar power plant, and can access additional solar energy from a 400 KV National Grid connection. It is scheduled for commissioning in July 2025.
Hindalco Industries stock rose 3.10% intraday to a 52-week high of Rs 538.70 against the previous close of Rs 522.50 on BSE.
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Aditya Birla Group company Hindalco Industries on Tuesday announced its plans 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, in a regulatory filing, said that it 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 Lithiumion and Sodium-ion cells.
Demand for battery grade aluminium foil in India is expected to grow manifold to 40,000 tonnes by 2030, primarily driven by mushrooming growth in gigafactories for advanced cell manufacturing.
“We are seeing a fast traction in battery materials demand, driven by an impressive outlook for the electric vehicle and grid storage sectors. Raw material localisation is critical in such strategic sectors,” Satish Pai, managing director, Hindalco Industries, said.
He further added that the company is thus making various investments in battery materials and technologies towards building Atmanirbhar Bharat. "Investment in this new battery foil mill is another such step in this direction," Pai stated.
Hindalco's 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.
Cell makers use high performance aluminium foils as a current collector for the cathode materials. The company said it is already developing such foils to raise the bar on mechanical strength, fine-tune the thickness and enhance surface characteristics of these advanced application foils. It added that it is working on new coatings on the battery foils that will boost performance by delivering better adhesion, lower resistance, and reduced corrosion. It will tap its robust R&D to provide tailor-made solutions for its customers.
Additionally, the company said it is working closely with original equipment manufacturers (OEM) to co-develop and make critical components like battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies, many of which are being designed and developed for the first time in India.
The new factory will be located alongside a 25 MW solar power plant, and can access additional solar energy from a 400 KV National Grid connection. It is scheduled for commissioning in July 2025.
Hindalco Industries stock rose 3.10% intraday to a 52-week high of Rs 538.70 against the previous close of Rs 522.50 on BSE.
Also Read: 'Sold for $68 million': BluSmart is not founder Punit Goyal's first success story
Also Read: Mirae Asset acquires BNP Paribas’ Sharekhan for Rs 3,000 crore: Report