Vizag start-up to produce thermal batteries for EVs
06 August 2018
Bharat Energy Storage Technology Private Ltd (BEST), an unlisted private company based in Visakhapatnam will build high energy density storage devices, which it says last longer than lithium ion batteries and can be used to power electric vehicles and telecom towers.
N Chandrababu Naidu, chief minister of Andhra Pradesh on Monday unveiled the first new high energy storage device.
The new factory will cost about Rs660 crore and will initially have an annual capacity of 1,000 megawatt, which will be ramped up to 10 giga Watts in the next 6-7 years, BVS Prakash, its managing director said, adding, it would generate 3,000 jobs in three years.
BEST will build high energy density storage devices, which it says last longer than lithium ion batteries and can be used to power electric vehicles and telecom towers.
The plant will take about six to eight months for completion and commercial production is expected by May 2019.
Naidu, credited with wooing global giants like Microsoft , Google, IBM and Hewlett-Packard to Hyderabad city, is rebuilding his state into a new industrial hub after it was bifurcated in 2014. Hyderabad now belongs to the newly carved out Telangana state.
Among others, South Korean carmaker Kia Motors Corp has signed a deal to invest about $1.1 billion to build its first factory in India’s Andhra Pradesh.