Bangalore-based electric vehicle (EV) maker Simple Energy announced on April 6 that it had signed an agreement with US battery technology firm C4V to manufacture cells in India.
The energy startup is best known for its Simple One electric scooter, which launched in August 2021. However, the company has yet to start delivering the two-wheeler to customers.
Lithium-ion battery cells are the powerhouse of any electric vehicle (EV). Simple Energy’s pact with Charge CCCV (C4V) is to establish a lithium-ion cell manufacturing system in India. The company revealed that it has signed a memorandum of understanding (MoU) to this effect with C4V. The facility will receive an initial investment of $150 million.
Simple Energy and the EV
Simple Energy was founded in 2019 to redefine the future of electric vehicles, making them safe and affordable. The company leads the domestic electric vehicle industry by vertically integrating the entire value chain.
Shreshth Mishra, co-founder of Simple Energy, said that “C4V has been working on battery and cell technology for some time that does not rely on rare earth materials. Simple Energy and C4V will work together on the R&D of manufacturing cells that will make tomorrow’s batteries safer and more efficient. He informed the Tap Trust of India that the installation with an initial capacity of 1 gigawatt hour will be gradually increased to 5 gigawatt hours and should be operational by the end of this year.
In addition to battery development, the two companies will collaborate to build cells with industry-leading safety, higher energy density than LFP (Lithium Ferro Phosphate) batteries, faster charging and longer cycle life based on patented C4V technology.
Mr. Mishra also revealed that this partnership will help Simple Energy refine its technology as it strives to drive innovation and produce modern two- and four-wheeled vehicles in the near future. He affirmed his confidence in their US-based partners revealing, “By partnering with C4V, we will consolidate cell supply, which is a lifeblood for us. This strategy also makes us more self-sufficient and reduces our dependence on imports.
C4V’s future projects
C4V is based in Binghamton, New York, and holds patents for its manufacturing process and lithium-ion battery composition. Last year, the company was invited to participate in a US Department of Energy project focusing on a solar-powered hybrid system for grid stabilization.
To date, the company offers different batteries, including P-series, N-series and S-series batteries. LiSER is a proprietary battery technology developed by the firm.
In January, Shailesh Upreti, CEO and Founder of C4V, introduced LiSER, a unique cellular technology platform, which stands for Lithium slim energy reserve. The company’s website states that “LiSER brings a Cobalt and nickel free lithium-ion battery cell technology providing 40-50% higher energy density and 5 times higher power density than LFP. He will also discuss various challenges facing the industry with respect to battery supply chain, cost and performance.
Kuldeep Gupta, Vice President of CV4, mentioned that the American manufacturer is always ready to collaborate and wants to support the electric vehicle industry in India.
Bearing in mind rising fuel prices and economic instability caused by the invasions, he added, “Empowering local manufacturing will not only reduce the burden of import duties, but will also ensure the timely supply of quality batteries in the electric vehicle space, thus boosting the confidence of original equipment manufacturers. (OEM) in the electric mobility market.
Currently, the company is in the final stages of commissioning its Gigafactory iM3NY in upstate New York and aims to start production in the coming months. They are working towards a production target of 38 GWh over the next eight years.