Munoth Industries Limited (MIL), promoted by Century old Chennai-based Munoth group, is setting up India’s maiden lithium cell manufacturing unit at a total investment of Rs 799 crores. The factory is being built on a 30-acre campus at Electronic Manufacturing Cluster 2, located adjacent to the Tirupati Airport, says the company website.
MIL has a technology agreement with China-based battery manufacturer Tianjin Lishen Battery Joint-Stock Co Ltd. For technical advisory, MIL has tied up with the Council for Scientific & Industrial Research (CSIR), a Government of India undertaking. The company is also in talks with leading technical institutions in India to conduct research on anode & cathode materials. The company has acquired 30 acres of land from Andhra Pradesh Industrial Investment Corporation, required for all the 3 phases of the project. The initial installed capacity in Phase I of the project will be around 250MW.
According to a report by the Hindu, the preproduction will start on September 16, 2022. The commercial production and formal opening of the facility are slated for mid-October. “It is the first lithium-ion cell manufacturing facility developed and operated by an Indian firm. In the first phase, we will invest ₹165 crores to produce 20,000 cells of 10Ah capacity daily and employ about 250 people,” said vice chairman Jaswant Munoth. According to the report, MIL has tied up with China-based Tianjin Lishen, BPI and Amprius for technology and the end product will be supplied to boAt, Amazon Basics, Xiaomi and Ambrane.
In the first phase, the company will produce cells for consumer electronics such as mobile phones, hearable and wearable devices. In the next two phases, MIL will make cells for the energy storage system and EV segment. “After the completion of the third phase, MIL will be a 1.25 GWh firm employing about 800 people. We are planning to hit the capital market by mid-2024. Besides, we will also lay a strong focus on R&D to supply technology to other firms to make cells,” Mr Munoth was quoted as saying.
Mr Munoth said that currently, India imports ₹15,000-20,000 crore of lithium-ion cells from China, South Korea, Vietnam and Hong Kong. The new facility would meet 60% of India’s requirements. He also said that it would take at least four to five years to achieve break even. MIL hopes to register a sales turnover of ₹450 crores in the first year.
The company website says that it will produce custom size 3.7V pouch cells based on OEM requirements with capacities ranging from 260 mAh to 10000 mAh, and we can achieve volume-specific energy up to 400Wh/L & mass-specific energy up to 200Wh/Kg.
MIL’s equity shareholders, apart from the Munoth Family’s majority stake, include promoters of Apollo Hospitals, Arkay Group (Bangalore), GM Modular Switches, Polaris & Intellect design and Shasun Group & Lifecell. The company’s board members have vast business international experience, and it has roped in senior professionals and is in the process of building a very strong management team for the lithium cell project. Munoth group, apart from telecom, has been into capital market operations since 1994. The capital market entity was the first in South India to become a depository participant. It is also a SEBI registered Merchant banker, Portfolio Manager and Stockbroker.
Subscribe & Stay Informed
Subscribe today for free and stay on top of latest developments in EV domain.