Capacity Increase in Manufacturing Facilities
Log9 Materials, a prominent player in the lithium-ion cell manufacturing sector, has announced significant expansion plans for its production facilities. The company aims to increase the capacity of its lithium-ion cell manufacturing unit from the current 50 MWh to a substantial one GWh within this year. Additionally, there are plans to expand its battery pack manufacturing capacity to two GWh in the next 15 to 18 months.
Focus on Indian Market and Commercial Mobility
This expansion initiative is part of Log9's strategy to enhance its lithium-ion cell production, optimize costs, and refine technology to tailor batteries for Indian climatic conditions. The company is also looking to diversify its product range, targeting commercial mobility applications for two, three, and four-wheelers, as well as industrial equipment like forklifts and tow trucks. Further, Log9 is exploring opportunities in larger commercial vehicles, including trucks and buses.
Funding and Current Manufacturing Status
Log9 Materials, having secured USD 40 million in a series-B funding round earlier in January, is actively responding to the increasing demand for electric vehicles (EVs), especially in the commercial and industrial sectors. The company has already enhanced its battery pack manufacturing capacity from 40 MWh in 2021 to 250 MWh presently.
