Vedanta Nico enters agreement to supply nickel to AEsir Technologies

30 Jul 2024 CW Team

Vedanta Nico, a subsidiary of Vedanta Ltd, announced that it has entered into an agreement with US-based AEsir Technologies to supply nickel, a crucial component for next-generation batteries. Nickel plays a vital role in EV battery technology, particularly in the cathode, where it enhances energy density, power output, and battery lifespan. Nickel-rich batteries, such as nickel-zinc variants, offer fast charging, reduce reliance on cobalt, and improve the overall value proposition of electric vehicles (EVs). Global demand for nickel in batteries is projected to reach 500,000 tonnes by 2025, up from 150,000 tonnes in 2020, driven by the expanding adoption of EVs. The International Energy Agency (IEA) forecasts that the number of electric cars will increase from over 10 million in 2020 to 145 million by 2030, fuelled by larger battery capacities, faster charging, and advancements in reducing cobalt use. "Vedanta Nico, India's primary nickel producer, has signed a strategic Memorandum of Understanding (MoU) with AEsir Technologies, Inc, a US-based innovator in advanced battery technologies," Vedanta Nico said in a statement. This partnership aims to develop and commercialise cutting-edge nickel-zinc batteries for critical infrastructure, 5G telecom, and electric vehicle chargers. (Source: ET)

Real Estate

02 Apr 2026

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