The cost of Lithium-ion battery packs has fallen close to 90%, and rates lower than US$100/kWh have been reported for the first time, foreshadowing rapid declines across the energy storage market.
CATL sold 21.31GWh of lithium batteries in 2018, primarily to the EV market in China, but after exhibiting at two major trade shows in the west, claims its 12,000 cycle lithium iron phosphate batteries are ready to take on the stationary energy storage system (ESS) market, too.
Indian state majority-owned firm Bharat Heavy Electricals Limited (BHEL) and Libcoin are in final stage talks over setting up what they have dubbed as a lithium-ion Gigafactory in India.
Indian power minister R.K. Singh has chaired a meeting with battery-based energy storage manufacturers calling on them to set up manufacturing units in India.
At least two global technology leaders could set up Gigafactories to manufacture lithium-ion cells in India in the next couple of years, and most major Indian firms are setting up energy storage divisions, according to the head of the India Energy Storage Alliance (IESA).
Canada-headquartered lithium-ion battery manufacturer Electrovaya increased its revenues year-on-year in the financial year which finished at the end of September, but the company also reported increased losses.
