Signals, Powered By EquityPandit
Mahindra & Mahindra (M&M) and LG Chem, Korean battery manufacturer has signed a deal to partner, in the filed of advanced lithium-ion power storage technology.
LG Chem will be developing a unique cell specially for India application and also supply Li-ion batteries based on NMC (nickel-manganese-cobalt) chemistry with high energy density.
These cells will be used in the Mahindra and SsangYong range of electic vehicls. M&M stated that, LG Chem will also be desinging Li-ion battery modules for Mahindra Electric, which in turn, will create battery packs for the Mahindra Group and other cutomers.
Moreover, Hemant Sikka, Mahindra’s president cheif purchase officer stated, “This association with LG Chem will give Mahindra the requistire access to advanced battery technology and will also enable us to deliver globally competitive products.”
