Lohum to Invest Rs 1,000 Crore in Manganese-Based Lithium-Ion Batteries

Lohum, a lithium-ion battery manufacturer and recycler, will invest Rs 1,000 crore over the next three years to develop manganese-based lithium-ion batteries. The project will be led by Tesla veteran Chaitanya Sharma. The company aims to build a 20 GWh capacity, enhanced by a grant from the Ministry of Mines.

Lithium-ion battery manufacturer and recycling company Lohum announced an investment of Rs 1,000 crore over the next three years to develop and manufacture manganese-based lithium-ion batteries.

Leading the new project will be Chaitanya Sharma, a Tesla veteran who has worked at North America's pioneering gigafactories, including Tesla and IM3NY, where he served as CEO.

This advancement will be supported by a research and development grant from the Ministry of Mines. Lohum aims to set up a capacity of over 20 GWh within the next three years, with the investment also funding related technological developments.

The next-generation LMFP (Lithium Manganese Iron Phosphate) battery chemistry promises higher safety and extended range for EVs compared to existing technologies, while also being more cost-effective. According to Rajat Verma, Founder and CEO of Lohum, the LMFP technology will significantly advance the energy transition, providing enhanced energy densities, cost-effectiveness, safety, sustainability, and thermal adaptability to climate change.

This initiative will critically support India's EV market and contribute to India's quest for energy independence. Lohum, which is currently the largest producer of conventional NMC (Nickel Manganese Cobalt)-based cathode active materials, had previously signed an agreement with the Tamil Nadu government to build an integrated recycling and cathode active material production facility in the state.

India boasts one of the largest manganese reserves in the world. This development positions Lohum to strengthen the lithium-ion battery supply chain and improve energy security in the country, the company stated.

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