Leading manufacturer of electrical components Lucas TVS Ltd. has reportedly signed a license and services agreement with 24M Technologies Inc., developer of next-gen lithium-ion battery technologies, to construct one of India’s first Giga factories using the disruptive and innovative SemiSolidTM platform tech of 24M.
The first plant with top-end safety standards will be established near Chennai in Thervoy Kandigai, Gummudipundi. Lucas TVS anticipates constructing other facilities across India to bolster the proliferating electric mobility, energy storage along with lead-acid battery replacement sectors.
The Chennai plant is predicted to commence commercial-scale production from the second half of 2023. Lucas TVS plans to augment the plant’s capacity to a global scale of 10 GWh in two stages. This is based on the ambitious targets set by the Government in the Electric mobility and Renewable energy space.
The SemiSolidTM platform of 24M has substantial benefits in comparison to traditional manufacturing processes. The process, which is safeguarded by over 100 pending and 80 issued patents, provides a substantially simpler process flow, reducing capital costs significantly. The SemiSolidTM tech allows the production of a thicker electrode, reducing material costs as well as increasing energy density.
Apart from the cost advantages, the patented cell design of 24M improves reliability, traceability, and safety by effectively eliminating possible metal contamination, the predominant cause of shorts in traditional lithium-ion cells.
In addition, the SemiSolidTM electrode removes the usage of binders, thereby enabling the most efficient and simple recycling of rejected cells. These benefits make it a primary choice for demanding consumers in crucial areas like electric mobility and energy storage.
The distinctive SemiSolidTM platform provides inventive solutions to the fast-growing electric mobility and storage markets along with the emerging markets of lead-acid battery replacement. The platform is already witnessing large capacities being planned across ASEAN, East Asia, Europe, and the United States.