The tax rate on lithium-ion batteries in India has been reduced from 28% to 18% in a bid to boost the country’s electric vehicle industry.
The cut announced by the Goods and Services Tax Council (GST), which was set up by the Indian government, was not as much as had been expected.
Chinese car and battery maker BYD is teaming up with a rival car-maker to build a battery giga factory in China— hot on the heels of opening what it said was the “world’s biggest” auto batteries plant in the country.
BYD is forming a joint venture with state-owned Changan Automobile to focus on electric vehicle (EV) battery production at a new plant in southwest China for domestic sales.
Germany is dipping into an economic aid fund to support the construction of a battery cells factory in the country by Chinese lithium giant Contemporary Amperex Technology (CATL), BEST Battery Briefing can reveal.
CATL confirmed last week it would invest €240 million (US$280m) to build the electric vehicle (EV) battery plant at Erfurt, in the east-central state of Thüringen.
India lead-acid manufacturer Exide Industries is teaming up with Swiss battery storage firm Leclanché in a new lithium joint venture targeting the Indian market.
The partnership will focus on building lithium-ion batteries for electric vehicles (EVs), stationary energy storage systems and “speciality storage markets”.