Mumbai: Seeking to tap the fast-growing electric vehicle (EV) market, Aditya Birla Group flagship company Hindalco Industries on Tuesday announced an investment of Rs 800 crore to set up a battery foil manufacturing facility in Odisha.
“The company is investing Rs 800 crore to build a new plant near Sambalpur in Odisha that will initially produce 25,000 metric tons of the resilient product that forms the backbone of lithium-ion and sodium-ion cells,” Hindalco said in a media release.
The aluminum rolling and recycling company expects the demand for battery-grade aluminum foil in India to grow manifold to 40,000 metric tons by 2030, driven primarily by growth in gigafactories for advanced cell manufacturing.
“We are seeing fast traction in battery material demand, driven by an impressive outlook for the electric vehicle and grid storage sectors. Raw material localization is critical in such strategic sectors,” said Satish Pai, Managing Director, Hindalco Industries.
High-performance aluminum foils are used by cell makers as a current collector for the cathode materials.
“Hindalco is thus making various investments in battery materials and technologies towards building Atmanirbhar Bharat. Investment in this new battery foil mill is another such step in this direction,” Pai said.
Hindalco said that its new project will provide a stellar thrust to the government’s green initiative to reduce carbon emissions and build sustainable growth.
“Additionally, the company is working closely with original equipment manufacturers (OEM) to co-develop and make critical components like battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies, many of which are being designed and developed for the first time in India,” it said.