New Delhi: Himadri Speciality Chemicals is planning to establish a Lithium Iron Phosphate (LFP) plant in Odisha with an investment of Rs 4,800 crore.
The facility will focus on producing Lithium Iron Phosphate (LFP) Cathode Active Material, a crucial component for electric vehicle (EV) batteries. This strategic move positions Himadri as the first Indian entity to enter this sector.
Phase I of the project will be 40,000 MTPA at an estimated cost of Rs 1,125 crore and is expected to be operational in 27 to 36 months. The company has a vision to produce 200,000 MTPA LFP Cathode Active Material, catering to 100 GWh of Li-ion Battery, in phases, over the next five to six years.
Himadri intends to sell these materials to original equipment manufacturers (OEMs) and battery cell manufacturers and currently does not plan to venture into Lithium-ion battery manufacturing.
Anticipating international demand, the company foresees the export of its new product, according to MoneyControl.
About LFP batteries
- They have a higher thermal runaway temperature of 270°C, offering enhanced safety compared to NMC batteries with a lower thermal runaway temperature of 210°C.
- They demonstrate greater resistance to catching fire or failing at elevated temperatures, a critical factor in the context of India’s varied climatic conditions.
- They present cost advantages and a longer lifespan compared to NMC batteries.
- The composition of LFP batteries, utilising lithium carbonate and iron phosphate, contributes to their cost-effectiveness.