Lohum, manufacturer and recycler of lithium-ion batteries, announced a substantial investment of ₹1,000 crore over the next three years to develop and produce manganese-based lithium-ion batteries.
The initiative is backed by a research and development grant from the ministry of mines. Lohum plans to establish a production capacity exceeding twenty GWh within this period, with the investment also supporting related technological advancements.
The new Lithium Manganese Iron Phosphate (LMFP) battery technology offers enhanced safety and extended range for electric vehicles compared to current technologies, along with being more cost-effective.
As reported by devdiscourse.com, the LMFP technology will significantly propel the energy transition, providing higher energy densities, cost savings, safety, sustainability, and better thermal adaptability to climate change. The project is expected to play a crucial role in supporting India’s EV market and advancing the country’s energy independence goals.
