Lucas TVS And 24M Technologies Join Hands To Build Giga Factory in Chennai

Lucas TVS, a manufacturer of automotive electrical components, and 24M Technologies, which develops next-generation lithium-ion battery technologies, announced on 31 August the signing of a licence and services agreement to build one of India's first Giga factories using 24M's disruptive SemiSolidTM platform technology in Tamil Nadu.

Lucas TVS will be the first to market with SemiSolidTM lithium-ion batteries, which are made in India and tailored exclusively for the Indian market. According to reports, the first plant will be built in Thervoy Kandigai, Gummudipundi, near Chennai, with world-class safety requirements. Founded in 1961, Lucas TVS aims to establish additional factories across India to support the burgeoning energy storage, electric mobility and lead-acid battery replacement sectors.

T.K. Balaji, Chairman and Managing Director, Lucas TVS said that the company selected to collaborate with 24M because Lucas TVS believes in investing in next-generation technologies. Additionally, he said: “We are confident that their innovative SemiSolidTM platform technology will enable us to provide our customers affordable e-mobility, lead-acid battery replacement and storage solutions with improved quality and best-in-class safety.”

In the second half of 2023, the Chennai factory is planned to start commercial production. Lucas TVS wants to expand the plant's capacity to a globally competitive size of 10 GWh in two stages, based on the government's ambitions in the renewable energy and electric mobility space, said the firm in a statement.

When compared to traditional production techniques, 24M's SemiSolidTM platform offers substantial advantages. The technology, which is covered by more than 80 issued and pending patents, provides a much simpler process flow, lowering capital costs dramatically. The SemiSolidTM technology allows for a thicker electrode to be produced, increasing energy density while lowering material costs.

By essentially eliminating possible metal contamination, the most prevalent source of shorts in conventional lithium-ion cells, 24M's proprietary cell design improves safety, reliability, and traceability. The electrode also eliminates the need for binders, making it possible to recycle rejected or end-of-life cells most simply and effectively possible. Large capacities are already being planned in Japan, ASEAN, Europe, East Asia, and the United States, according to the platform.

Naoki Ota, Chief Executive Officer of 24M said: “We are delighted to partner with a market leader like Lucas TVS with a 60+ year track record of performance as a leading provider of electromagnetic solutions to the mobility market. Our innovative SemiSolidTM technology and ongoing R&D investments will support Lucas TVS’s ambition to become a leader in the energy storage space for mobility, lead-acid battery replacement, storage and grid-scale markets in India.”

Lucas TVS intends to develop high-energy-density products employing a variety of chemistries in Pouch and Prismatic cell configurations. Customers in e-mobility, stationary energy storage, including grid-scale markets and lead-acid battery replacement will benefit from the products. Customers who require complete battery solutions will be able to get them from Lucas TVS.