Make In India: LNJ Bhilwara Group And Replus Engitech To Set Up 1-GW Lithium-Ion Battery Plant In Pune

Multi-diversified conglomerate LNJ Bhilwara Group had tied hands with Pune-based Replus Engitech to set up a joint venture which will operate in the lithium-ion battery business, reports Economic Times.

Giving a fillip to the Centre's Make in India call and Atmanirbhar Bharat policy push, the combine will set up a 1-GW plant for lithium-ion battery modules and packs, battery management systems, energy management systems, and containerised battery energy solutions.

The greenfield investment will be completed and the plant will be operationalised by the middle of 2022 in Pune. Thereafter in the second phase, the joint venture will aim to increase the capacity to five GW by 2024 and would eventually target to be amongst the top 10 providers globally.

It should be noted that Replus Engitech operates in advanced energy storage products and solutions. The combine will be looking to leverage LNJ Bhilwara Group's global presence.

Vice-chairman of the group, Riju Jhunjhunwala said, "We are eyeing to build a strong presence in the energy storage domain and contribute to Make in India through this venture."