Sri Lanka lead-acid firm Associated Battery Manufacturers Ceylon (ABM) is reportedly set to launch a new start-stop battery onto the market— and make its first foray into lithium with a Korean partner.
The new battery, developed in partnership with the Sri Lanka Institute of Nanotechnology, is expected to help “increase vehicle fuel efficiency by 12%”, CEO M Ramachandran (pictured) was quoted as telling the Daily News.
Ramachandran could not be contacted by BBB for details of the project at the time of going to press.
Meanwhile, according to the paper, ABM expects to finalise proposals with a “Fortune 500 Korean company” by the end of this year for cooperation in producing lithium-ion batteries. Ramachandran said ABM “plans to introduce products for electric and hybrid vehicles”.
The new products development comes as ABM prepares to expand sales into Cambodia and Vietnam, Ramachandran said.
The sales push is on the back of 59% growth in battery exports reported by ABM in 2017-18— totalling revenue of $1.33 million from exports to countries including Myanmar, Singapore, the United Arab Emirates, Indonesia and the Maldives, the paper said. ABM recorded turnover of Rs3.36 billion (about $50m) over the same period.
ABM was launched in 1960 and specialises in manufacturing a range of 25Ah to 200Ah lead batteries including the Exide, Lucas and Dagenite brands.
