Cygni to build new battery factory in India with an investment of around Rs 300 crore

The demand for electric vehicles is increasing in the country. At the same time, the demand for lithium-ion batteries, one of the most important components of electric vehicles, is increasing rapidly. Therefore, to increase the production capacity, the company that manufactures such batteries, Signi Energy Pvt Ltd, has announced to set up a new factory in Hyderabad. They are going to invest 40 million dollars (about Rs 300 crore) for this.

Signi’s upcoming 1 GW manufacturing plant will quadruple their production capacity. As a result, they will be able to produce around 40,000 lithium-ion batteries per year.

Signi currently has a manufacturing facility with an annual capacity of 250 MW. whose full production capacity has not yet been utilised. The company has sold 125 MW per hour batteries since 2016 till date. Which is roughly equivalent to 60,000 electric vehicle batteries

Incidentally, battery pack manufacturers mix smaller cells to fill the battery and develop the necessary battery management system for this. The main component of the lithium-ion battery, the lithium-ion cell, is not made in India. They will have to be imported from China. However, a Kolkata-based company Exide has said that it will set up a few thousand MW plants in India to make lithium-ion cells.

Signi currently has 16 types of battery packs for electric two-wheelers and three-wheelers. It has already got approval from 6 local testing agencies. Signi currently works with some of the leading electric car manufacturers in the country.