The bangalore-based startup has expertise in the manufacturing, research, and development of nanotechnologies, had started producing battery packs for electric 2 and 3-wheelers from December 2021 and is currently producing out 8,000-10,000 units per annum.
Log9 Materials is backed by Amara Raja; with the intention to establish itself as an all-segment, battery cell-to-pack manufacturer, the startup is planning to invest a whopping Rs 2,350 crore over the next few years. Out of this planned budget around Rs, 200 crores will be spent on increasing the capacity of existing battery pack facilities and Rs 150 crore on building a cell manufacturing facility.
“We are investing Rs 150-160 crore in the battery pack facility, another Rs 150-200 crore on the cell manufacturing facility. Beyond that in FY2025, we plan to invest Rs 2,000 crore in a mega Gigafactory as part of our expansion plans,” Akshay Singhal, Founder, and CEO of Log9 Materials.
The Bangalore-based startup has expertise in the manufacturing, research, and development of nanotechnologies had started producing battery packs for electric 2 and 3-wheelers from December 2021 and is currently producing out 8,000-10,000 units per annum.
“We are also in talks with a few others for more four-wheeler partnerships. And in doing so, our push will continue to remain on the CV side, currently not on PVs,” Singhal said.
Log9 Materials is also planning to set up a gigafactory during FY 2026 after both the battery pack and cell manufacturing facilities starts operating at 100% capacity.
