This Company is moving from fashion and textiles to electric vehicles. Auto News.

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They Although they are best-known for their clothing and textile business, they were also attracted to electric vehicles’ potential growth. India, LNJ Bhilwara Group This It is Rajasthan The The group believes that EV batteries will be the driving force behind future growth and is placing a lot of faith in them.

The Company The installation of a 1Gigawatt-hour battery power plant is almost complete. Pune In Partner with Replus Engitech The Company plans to increase facility size to 5 GWh by 2026.

“We have three different businesses, textiles, graphite and the power generation business. We continue to grow in at least the textiles and graphite businesses, but we also realize that the times are changing,” Riju JhunjhunwalaLNJ Vice Chairman Bhilwara Group. “Going forward the next 10-15 years, technology, EVs, artificial intelligence are on the cusp of really growing. We as a group cannot shy away from this and we have to have a presence in some of these areas.”

The Electric vehicle ecosystem is still in its infancy. India But It’s already attracting attention from companies like Bhilwara Group They Different or unrelated industries can be operated. Lithium Ion The most common use of batteries is in two areas: stationary storage devices (such as rooftop solar panels or solar lamps) and electric vehicles. The These batteries are produced in approximately 16 GWh by the country, and around 10 GWh from EVs. By 2030: This Expected to reach at least 500 GWh, 350 GWh of which will be EVs.

“As the grid in India cleans itself and moves away from thermal power stations, batteries will be the backbone and the majority of the power generation will come from solar and wind,” Hiren Pravin ShahLNJ’s CEO and Executive DirectorBhilwara Replus Venture. “As far as EVs are concerned, in the next 3-4 years the industry will mature, volumes will pick up and the range of the batteries will stabilize at a minimum of 300 kilometres in real-world conditions. So EVs would account for around 3-3.5 gigawatt-hour of the sales for us and stationary storage will account for the rest 1.5 GWh capacity.”

As The Grid India Cleanses It moves away from thermal power stations. Batteries The backbone. Most The majority of the power generated will come from wind and solar.Hiren Pravin Shah, LNJ-Bhilwara Replus Venture

All Of This It would be a huge business opportunity. According CRISIL projects that EVs will bring in INR 3 lakh crore revenue by 2025-25, according to CRISIL. Automotive The potential of half the companies is held by financial institutions, insurers, and on shared mobility platforms. Additionally, As It is a major supplier to automotive companies. Jhunjhunwala The New business is the fourth pillar. It should contribute at most a fifth to the group’s overall revenues.”We would want 20% to come from this particular business in the next 5-7 years because otherwise, it will never be in focus. We have to see this as a serious business,” He said. “What we are really trying from our end is to have the fastest moving cutting edge systems integrator, which any of the big companies will need to build a technology. We will watch the big players and if they have to switch from a technology we should be able to do that extremely fast and at the lowest possible cost.”

“When I talk about cost today, our cost is dependent on the cost of imported cells from China. Tomorrow, when the Indian cell manufacturing starts in two, or three years, one really has to see how competitive the Indian cell manufacturers are compared to the Chinese ones,” He added.

We We We will be keeping an eye on the major players and, if they have to switch from one technology, then we should be able to do it quickly and at the most affordable cost.Riju JhunjhunwalaLNJ Bhilwara Group

ThereHowever, there are potential pitfalls. Already The There are more than 250 startups competing to be in the domestic EV space. The The pie will increase as more people switch from combustion engines to power their cars, but it won’t be enough to support all the companies. Some The consolidation phase will end in which the company may die, and it could begin as early 2025.

“Even in a mature market like China or Europe, there are over 50 brands of batteries with the top 10 who control 80% of the market and about 40 players for the balance 20% with each one having a pie for themselves,” Shah. “It will be very similar here–very large players in the top five top 10 controlling the majority of the market. Who those top five top 5 will be, we have to wait and see. There will be large battery companies if they can quickly diversify their focus by pumping money and there will be some like us completely riding on the technology wave of innovation and new cell chemistries. That is how the market will evolve.”

Further To It is looking for overseas markets to help it protect itself from volatility on the domestic market. South East Asia, Middle East And Africa.

“We are not limited or restricting ourselves to the Indian market and will definitely want to be a global multinational company. And by virtue of that, we will explore other geographies. For example, there is huge development happening in the Middle East,” Shah said. “They have the money and want to work with very strong technologically sound engineering companies. They want people who know you know the worth of the game and whom they can bet on in terms of technology and engineering. And we will be one of those who will do the execution.”

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