+
Hindalco Industries surges on plans for Battery Foil Plant in Odisha
ECONOMY & POLICY

Hindalco Industries surges on plans for Battery Foil Plant in Odisha

Hindalco Industries witnessed a surge of over 3% in its shares, reaching a 52-week high of Rs 538.50 on December 12, following the company's announcement of establishing a battery foil manufacturing facility in Odisha.

The company is set to invest up to Rs 800 crore in the new battery foil plant, slated for commissioning by July 2025. The initial production target for the plant is 25,000 tonnes of the resilient product crucial for Lithium-ion and Sodium-ion cells.

Strategically located alongside a 25 MW solar power plant, the factory can tap into additional solar energy from a 400 KV National Grid connection. This initiative aligns with the government's green agenda, aiming to reduce carbon emissions and foster sustainable growth.

Hindalco Industries' move to establish the battery foil manufacturing plant is in sync with its broader strategy to capitalise on the burgeoning electric vehicle (EV) market. The company is actively collaborating with original equipment manufacturers (OEMs) to co-develop critical components such as battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. Many of these components are being designed and developed for the first time in India.

Satish Pai, Managing Director of Hindalco Industries, highlighted the rising demand for battery materials driven by the optimistic outlook for the electric vehicle and grid storage sectors. Emphasising the importance of localising raw materials in strategic sectors, Pai stated that the investment in the new battery foil mill is a significant step toward building a self-reliant India.

The new plant will augment the company's manufacturing capacity for high-quality aluminum foil, essential for rechargeable batteries, to cater to the rapidly expanding market for electric vehicles (EVs) and energy storage systems.

Hindalco Industries witnessed a surge of over 3% in its shares, reaching a 52-week high of Rs 538.50 on December 12, following the company's announcement of establishing a battery foil manufacturing facility in Odisha. The company is set to invest up to Rs 800 crore in the new battery foil plant, slated for commissioning by July 2025. The initial production target for the plant is 25,000 tonnes of the resilient product crucial for Lithium-ion and Sodium-ion cells. Strategically located alongside a 25 MW solar power plant, the factory can tap into additional solar energy from a 400 KV National Grid connection. This initiative aligns with the government's green agenda, aiming to reduce carbon emissions and foster sustainable growth. Hindalco Industries' move to establish the battery foil manufacturing plant is in sync with its broader strategy to capitalise on the burgeoning electric vehicle (EV) market. The company is actively collaborating with original equipment manufacturers (OEMs) to co-develop critical components such as battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. Many of these components are being designed and developed for the first time in India. Satish Pai, Managing Director of Hindalco Industries, highlighted the rising demand for battery materials driven by the optimistic outlook for the electric vehicle and grid storage sectors. Emphasising the importance of localising raw materials in strategic sectors, Pai stated that the investment in the new battery foil mill is a significant step toward building a self-reliant India. The new plant will augment the company's manufacturing capacity for high-quality aluminum foil, essential for rechargeable batteries, to cater to the rapidly expanding market for electric vehicles (EVs) and energy storage systems.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code