The CEO of India’s Amara Raja Batteries said the firm is braced for further hikes in the price of lead into 2018— but that it has “mitigated” the impact through existing contracts.
S Vijayanad said while LME prices had seen “close to 25% growth” over the past year, the industrial and automotive battery maker expects to see lead prices “in the range of $2,400 to $2,500 per metric ton” by next spring.
Indian lead-acid battery maker Amara Raja Batteries is reportedly preparing to branch out into “alternative chemistries” as part of business expansion plans.
Amara chairman Ramachandra N Galla told India’s Business Standard: “We expect to finalise the technologies and the investment plans in a year or two. The work on research, capital costs and partnerships is currently under way.”
Switzerland-based energy storage firm Leclanché is teaming up with a Dutch company on a pilot batteries project aimed at creating a network of energy-efficient electric vehicle (EV) fast charging stations across Europe.
Leclanché said it will initially develop a battery storage system “using large-format lithium-ion batteries” at two unnamed locations for Fastned— which already operates 63 fast charging EV stations it has built in the Netherlands.
The lead-acid business in India is set to soar over the next few years and demand from stationary and motive applications (SMA) will more than double in value, according to a new report.
The India Energy Storage Alliance (IESA) said the value of the country’s lead-acid batteries market is currently worth around Rs27,000 crore ($4.2 billion)— of which the SMA market share accounts for Rs12,650 crore ($1.98bn).