Omega Seiki Mobility Pvt will spend 8 billion rupees ($981 million) on the construction of two plants in India to produce the batteries and powertrains for electric car components. According to a statement released, the New Delhi-based company has partnered with startup iM3NY,
which makes lithium-ion cells in New York, to build batteries in the South Asian country. The 2018-founded Omega has also partnered with Jae Sung Tech Korea to produce local electric car power trains, according to the statement.
According to consultant Arthur D Little, the demand for lithium-ion batteries in India would rise from 3 gigawatt-hour now to 20 gigawatt-hour by 2030, necessitating an expansion of domestic cell manufacturing capacity. Due to a shortage of domestic manufacture, India imports 70% of its lithium-ion cell needs from China and Hong Kong.
According to the business, Omega's battery facility in the western state of Maharashtra would start out with a 0.5 gigawatt capacity and grow to 2 gigawatts. According to the company, 10,000 units will be produced at its Haryana power train plant in 2024, and 100,000 by the fourth year.
