First Indian Lithium Ion Battery Production Firm Opens in Andhra Pradesh. Experts believe that India is going to be the Technology Hub for the whole world within the next 5 years. That’s why technology-centric products making is increasing day by day in India. Whether we talk about the manufacturing of mobile or mobile components, India is moving fast in all aspects. Now in this step of growing India, Munoth Industries Ltd. also contributes. This Company contributes by opening the first lithium-ion battery production firm in Tirupati, Andhra Pradesh. Moreover, The company has divided the production into three phases, where the total expenditure of all the phases is counting to approx Rs 799 crore.
First Indian Lithium Ion Battery Production Firm Opens in Andhra Pradesh: Report
The Opening of Lithium-Ion battery Manufacturing company provides a great relief to the Indian Smartphone Manufacturing companies. Moreover, With this firm India will also be able to export lithium-ion batteries outside.
According to an Info by Economic Times, The company will invest Rs 165 crores in the first phase. However, their target is to manufacture batteries whose total power is equal to 200,000 Amper Hour per day. Then, they sell these batteries to mobile phone manufacturing companies by April 2019.
Presently, there are a total of 120 firms which manufactures mobile phones and accessories in our country. Moreover, out of these 120 firms, 20 firms are those who assemble batteries.
The company will also employ at least 1800 people. So, this will act as a mass job generation firm.
Taking the ecosystem also into the consideration, Government approves the project. Therefore, they gives them permission to open this factory in Andhra Pradesh. Let see what will happen next. When the production starts and does it lead the Indian Lithium Ion Battery Manufacturing hub in future.
Do let us know your opinion in the comment section down below. Will India has to set up more and more technology-centric product manufacturing companies or not?