Battrixx, an advanced lithium-ion battery packs manufacturer, is aiming to have a strong presence in the electric two- and three-wheeler segments, which are majorly propelling the growth in the domestic electric vehicle space, according to a top executive. Battrixx, which is the battery division of Kabra ExtrusionTechnik, late last year had announced it will raise up to Rs 301 crore for the expansion of the brand, which includes raising the annual battery packs production capacity to seven lakh by the end of FY24, from one lakh at present. Kabra tied up with a leading European technology player in 2018 to offer advanced lithium-ion battery packs with smart battery management systems both for electric vehicles and other energy storage applications. Battrixx has a state-of-the-art design, development and manufacturing facility in Pune.
"The three-wheelers segment is quite active in the EV space already. "Our target currently is two-wheeler space, where we are strong, and three-wheelers segment, which we will be adding in our product line-up towards the second quarter of the next (fiscal) year," Anand Kabra, vice-chairman and managing director of Kabra ExtrusionTechnik, told PTI.
He said the goal is to continuously strengthen the company's positioning in these two segments. EV sales in India are expected to touch one million units in 2022, according to the Society of Manufacturers of Electric Vehicles (SMEV).
In 2021, the companies sold more than double of the 2020 two-wheeler volumes at 2,33,971 units compared with 1,00,736 units, majorly driven by the high-speed e-scooters sale across the country, according to the SMEV. "The official numbers, especially on the e-two-wheeler side, have been phenomenal last year with a 135 per cent growth. We expect EV industry growth is going to continue this year as well and we are positioned well to get a large part of this growth," said Kabra.
Apart from two- and three-wheelers, the light commercial vehicle segment is going to be the third that will soon start driving the growth both for the industry as well as Battrixx, Kabra said. "We expect between 6-8 per cent will convert from the ICE (internal combustion engine) two-wheeler side to EVs, while the three-wheeler segment has already got a large conversion. However, four-wheelers and LCV (light commercial vehicle) will take a few more years to develop," he stated.
He said that as part of its capacity expansion plans, Battrixx will have a total annual production capacity of about 2,50,000 units by the end of this fiscal year, up from one lakh packs at present, which would be about 22,000 a month. After this expansion and fundraising, Battrix expects the total production capacity to be around seven lakh units per year by FY24, he said.
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Kabra ExtrusionTechnik had on December 25 announced that the company's board has given its approval to its proposal of raising up to Rs 301 crore through a mix of debt and equity for the expansion of its future technologies brand Battrixx. Kabra said the company continues to spend on the research and development space and has set up a separate R&D centre, which will only look at investing in technology in the future.
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