Pinnacle has collaborated with Phylion Battery Company Ltd to set up a battery assembly unit in Maharashtra for electric vehicles
PUNE, India, Jan. 16: Pinnacle Industries Limited, has collaborated with Phylion Battery Company Ltd for the commencement of its integrated lithium-ion battery assembly facility in Maharashtra, India. The new facility was unveiled today. The sophisticated assembly unit is presently totally functional and will commence rolling out FAME II compliant products for Indian market.
Pinnacle is India's top Commercial Vehicle Components Company while Phylion Battery Company is a pioneer in the lithium-ion battery manufacturing for light electric vehicles.
Since its commencement in 2003, Phylion Battery has been on a widening spree in Europe and Asian markets. In recent times it marked the manufacturing of its 10 millionth batteries in China for LEV.
Phylion entered the Indian market over 4 years ago and has presently turned out to be the industry pioneer of the lithium-ion battery cell for the Indian EV market along with swift after sales services.
Pinnacle Industries Ltd proposes to roll out battery packs with Phylion Cells and SKD Kits for Light Electric Vehicles, Logistics Vehicles, Passenger Cars, Vans, Light Commercial Vehicles etc. from its assembly unit.
As stated by industry reports, the market for lithium-ion battery in India is anticipated to expand at a CAGR of approx. 34% during the predicted tenure of 2019 - 2024. Reasons for example decline in lithium-ion battery costs along with the emergence of new and thrilling markets, i.e., electric vehicle and energy storage systems (ESS), for both commercial and residential applications are anticipated to be the chief propellers for the lithium-ion battery market in India.
Speaking about the association, Mr. Sudhir Mehta, Chairman & Managing Director, Pinnacle Industries Limited, observed, "Being one of the long-term players in automotive component manufacturing, we understand the importance and need for organized, integrated, credible and safe EV battery assembly facility in India. There is immense market potential and dire need to localize manufacturing of EV batteries, to bring down the vehicle cost and make EV's more viable, benefit the small OEMs to get localized products for low speed vehicles and other applications, and improve the after sales service. We look forward to address the existing industry gaps with our association with Phylion and Government's impetus on electrification of vehicles through its various policies."
Commenting on the launch, Mr. Andrew LEE, Vice President, Phylion, remarked, "We are elated to partner with Pinnacle Industries, to cater to the expanding Indian EV market. Our strategy is to use our 16 years market approved lithium-ion cells to help Pinnacle to develop batteries with optimized cost and performance for Indian temperatures."
"We have been committed towards providing high quality and safe products and we look forward to scaling up the renewable manufacturing in India."
About Pinnacle Industries:
Pinnacle Industries Limited was established in 1996 in Pithampur, near city of Indore in Madhya Pradesh (INDIA). Over the previous number of years Pinnacle has consistently invested in and broadened its expertise collaborations, manufacturing systems, product array and clientele to develop as India's biggest commercial vehicle, bus seating and Interiors Company. With a varied group of companies in seating & interiors, specialty vehicles, irrigation, retail store solutions, financial services & engineering services, Pinnacle directly influence the top and bottom line of businesses in India and all over the globe.
About Phylion:
Established in 2003, Phylion Battery Co., Ltd. is presently an industrial pioneer specializing in the R&D, production and service support of power lithium-ion batteries. With the self-developed lithium-ion prismatic cell, Phylion is dedicated to presenting secure, dependable and cost-effective products applied in EV/HEV, Light EV, Energy Storage, etc., also furnishes total solution in sphere of equipment choice, optimum manufacturing layout, installation, operation and maintenance.
Phylion has amassed profound market experience with over 16 years in China, 10 years in Europe and 4 years in India and takes pride on the manufacturing of 10th million battery packs from assembly line in 2019. Phylion's continuous stress on novel expertise and novelty to match new model necessities. It will broaden a wider market besides China, Europe and India to contribute to the worldwide e-mobility.
By ANJISHNU BISWAS
No comments:
Post a Comment