MUMBAI: Aluminium producer Hindalco Industries on Tuesday announced its plan to set up a battery foil manufacturing facility at Sambalpur in Odisha with an investment of Rs 800 crore to tap the fast-expanding electric vehicle market.
The facility, to be commissioned by July 2025, will initially produce 25,000 tonnes of the aluminium foil which forms the backbone of lithium-ion and sodium-ion cells, Hindalco Industries said. The company also plans to significantly expand its capacity of making fine-quality aluminium foil which is used in rechargeable batteries, Hindalco said in a statement.
By 2030, demand for battery grade aluminium foil in India is expected to grow manifold to 40,000 tonnes, primarily driven by mushrooming growth in gigafactories for advanced cell manufacturing, as per the company.