Battrixx has inked a partnership for developing "Made In India" Lithium-ion batteries with Hero Electric, the largest E2W company in India. Conceptualized and designed in-house with Hero's R&D team, these are the latest technology batteries electrifying Hero Electric's entire e-scooter range. This partnership supports battery safety advancements, reliability, and performance and fully supports Hero's aggressive production line-up to meet the rising e2W demand.
Battrixx will power Hero Electric Scooters, thanks to its new advanced cell chemistry pack designs. This will prove to be a very strategic partnership for the development and manufacturing of advanced cell chemistry battery packs. The target is to supply 300,000 battery packs and chargers in the next financial year based on Hero Electric's projections. These batteries comply with the latest AIS 156 amendments that cover IP67 Thermal Protection, A/V Warning Systems, smart BMS, and Live Data Tracking with IoT. Battrixx comes with an intelligent battery with two-way communication between the vehicle, controller, battery, and charger.
Commenting on the partnership, Mr. Anand Kabra, Vice Chairman & Managing Director, Kabra Extrusiontechnik Limited said, "Battrixx is a crucial manufacturer for advanced lithiumion battery packs across sectors. There has been a huge investment in infrastructure and technology to cater to the rising electric vehicle demand in the country. For EVs, battery packs are a crucial component and involve ample research and testing to be safe for EV owners. Over the last 18 months, we have been through rigorous testing and R&D and prepared to deliver global quality batteries for the growing Indian EV sector. With our partnership with Hero Electric, we are positive of facilitating an innovative, safe, and long-life cycle Li-ion LFP battery chemistry to aid the exponentially growing EV segment."
Sohinder Gill, CEO, Hero Electric, said, "Batteries are the heart of electric mobility and the costliest. Batteries are also the most sensitive part, as their performance largely depends on the ecosystem in which they operate. It takes a long time to perfect the battery technology as its life expectancy and, abnormal behaviour over of battery's life cycle cannot be entirely forecasted by using accelerated simulation techniques. Our local battery development exercise started five years back to meet the FAME 2 timeline however, there was hardly any interest from the leading battery makers because of the low volumes and high investments. We continued our R&D experiments with different chemistries to achieve the right solution suitable for Indian weather conditions and roads. Partnering with Battrixx, we co-developed these battery packs to deliver a seamless performance while maintaining the highest levels of safety. The technology allows battery packs to carry their operations smoothly and safely in diverse temperature ranges; even if the temperatures go up to 45°C, there are negligible chances of a thermal runaway. Committed to developing and modernizing the Indian EV sector, both Battrixx and Hero Electric have come together to offer avant-garde, innovative, and safe mobility solutions to our consumers."
At Hero, we have been working to build a robust localized supply chain for powertrains and batteries that did not exist two years ago. It was challenging for the e2W segment to get local vendors for this new mobility solution that ensures quality and provides the required quantity for the rising EV demand. However, the hockey stick growth in the EV segment has created interest in the supply chain segment, and companies are willing to invest in electric mobility.
Shares of Kabra Extrusion Technik Limited was last trading in BSE at Rs. 413.15 as compared to the previous close of Rs. 415.45. The total number of shares traded during the day was 1422 in over 276 trades.
The stock hit an intraday high of Rs. 419.80 and intraday low of 411.50. The net turnover during the day was Rs. 588692.00.