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Mumbai — Amara Raja Batteries, India’s second-biggest traditional battery maker by value, will build a lithium ion pack assembly plant as it seeks to grab a slice of the market for electric vehicle power packs, which is set to grow to $300bn by 2030.
The battery maker is building a 100MW/h assembly plant in the southern state of Andhra Pradesh, CEO S Vijayanand said. "There’s incubation work going on because we are at a beginning stage both from the market demand and product development perspective."
The new lithium ion pack assembly is expected to generate business by the end of this financial year, ending March 2019, he said.
In India, with annual sales of about 3-million passenger vehicles powered by fossil fuels, vehicle makers are considering entering the new segment as the government plans to have green vehicles make up about a third of its fleet by 2030.
The shift will be gradual as India needs to push for electric vehicles in a consistent manner over a long period and ensure...
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