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Gurgaon-based Napino Auto & Electronics Ltd has signed a memorandum of understanding (MoU) with US-based Farasis Energy Inc. to manufacture 2W and 3W lithium-ion battery packs in India.
Farasis Energy Inc. is one of the market leaders in providing high energy density lithium-ion battery cells. Under this MoU, Napino and Farasis shall jointly develop the business in India. Napino will bring the automotive experience in mass production for the Indian market.
Naveen Kumar, CEO, Napino Auto & Electronics Ltd. said, "Our partnership with Farasis Energy comes in at the right time with the governments push to promote faster adoption of EVs. The manufacturing of battery packs is an integral part of our e-mobility strategy."
Thanh Nguyen, Vice President of Sales and Marketing stated, "We are very excited about the partnership with Napino for providing battery packs for electric vehicles. Given the huge potential offered by the Indian market, we foresee that India will become one of the largest e-mobility markets in the world. This strategic collaboration will enable us to access this fast-growing market."
Thoughts On The Inhouse EV Battery Packs Production
lithium-ion battery packs are really expensive but at the same time, they are light and have a good charge range. These batteries are used to run EV vehicles as they are light. Importing these batteries is expensive and that is why the EV vehicles cost a lot. Manufacturing them on our soils will reduce the cost of production and make the EVs cheaper.