UK’s Faradion Ltd recently announced a new partnership with Indian startup Infraprime Logistics Technologies (IPLTech) for its high energy sodium-ion batteries for use in commercial vehicles in the Indian market. IPLTech was the first in India to roll out an all-electric heavy-duty 60-tonne commercial vehicle last year. Earlier this year, Faradion bagged its first major order from ICM Australia. Faradion says that sodium-ion technology provides similar performance to conventional chemistries while replacing expensive materials such as cobalt and lithium with sodium, hence offering a cost-effective alternative to lithium-ion batteries.
India’s move towards electric commercial vehicles is driven by the government’s target of 30% electric vehicle adoption by 2030. It has given a significant push to infrastructure by allocating $1.4 trillion for infrastructure to be invested by 2025. This is higher than the UK ($35 billion) and the US ($500 billion) in the same period. Each day, 40 km of highways are constructed in India and the market for roads and highways is projected to grow at an annual rate of 36% from now to 2025.
Faradion claims that unlike lithium-ion batteries, sodium-ion batteries have exceptional thermal stability and safety. Furthermore, they can be transported safely and maintained at zero volts.
Siddhartha Das, Executive Chairman, IPLTech said, “Our full electric mega trucks are the first of their kind to be integrated and deployed in India. We believe that Faradion technology can provide the Indian market an effective solution at competitive prices.”
James Quinn, CEO of Faradion says India was the next logical region for Faradion, given the market conditions. Faradion is accelerating large scale industrialisation of its safe, low cost, Sodium-ion energy storage technology. The partnership with IPLTech reflects an important milestone in our commitment to the market and the Prime Minister’s Make In India vision, as we also shortly commence manufacturing in India, he added.
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