From pv magazine India
Haryana-based Sanvaru Technology has revealed that it will more than triple its lithium battery manufacturing capacity in India to 400 MWh per year.
The company currently has a 125 MWh/year facility in Sonipat, Haryana, where it makes lithium batteries for the solar storage and electric vehicle segments. Its expansion plans are now underway, and its next factory will be built in Haridwar, Uttarakhand.
“We expect our revenues to cross [$22 million] this year, as we have received letters of intent for orders,” Sunil Bhatnagar, international business director for new and emerging technologies at Sanvaru Technology, told pv magazine.
Bhatnagar said the electric vehicle market is expanding, with two-wheelers and three-wheelers leading sales. For four-wheelers, the electric bus market is quickly emerging as a mode of mass rapid transportation. Another potential segment is e-tractors, which are good for exports, but the domestic market is also coming up now, said Bhatnagar.
In line with current market trends, Sanvaru’s focus is on lithium batteries for EVs. On the solar side, it mainly makes high-voltage energy storage systems. It also makes some batteries for applications such as medical equipment and e-cycles.
“[An] e-bus battery is also in the pipeline, as it’s quite similar to e-truck batteries. Another vertical which is coming up is megawatt-level containerized solutions, where Sanvaru is working on many fronts,” said Bhatnagar.
Sanvaru has a supply base that spans all of India. It also exports batteries to neighboring countries and markets in Africa.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.