An initial agreement was signed between the electric vehicle maker Simple Energy and US’s Charge CCCV (C4V) to manufacture cells in India, according to the company. C4V is a lithium-ion battery technology company used in passenger rail cars for lighting and HVAC. The deliveries of its inaugural offering have not yet begun, though.
Based in Bangalore, the two-wheeler electric company is a top domestic EV market. The company said the memorandum of understanding was singed with C4V to establish a Lithium-ion cell manufacturing ecosystem in India.
The strategic cooperation applies cells that have high safety, greater energy density compared to LFP batteries, faster charging and longer life cycle, said Simple Energy.
In this regard, Shreshth Mishra, Co-Founder of Simple Energy said, “By partnering with C4V, we will consolidate cell supply, which is a vital component for us. This strategy also makes us more self-reliant and reduces our dependency on imports.” Mishra also added enhancement of domestic manufacturing will both lower import duties and guarantee the supply of high-quality batteries in the EV market at an appropriate time.
C4V attempts to support India’s supply chain with its most advanced lithium-ion battery technology to power the Indian company’s two-wheeler and four-wheeler vehicles.