Shyam Metalics and Energy Limited has entered the energy storage sector by manufacturing battery-grade aluminum foil. The company believes that with the growing lithium-ion production capacity in India from 2024 to 2030, they will be a key supplier of raw materials to these plants. They are currently in the trial phase with upcoming lithium-ion battery companies and expect commercial orders to start flowing in by the first quarter of next year.
“As India gets ready to set up Lithium-ion cell Giga-factories as part of the government’s production-linked incentive (PLI) scheme, we now foray into raw material space for Lithium-ion cell manufacturing. This strengthens the indigenization drive in the strategically important energy storage solutions sector,” the company said.
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