These 6 Chemical Companies Eyeing EV Batteries

Thaman Chhetri

Jan 28, 2024

Lithium Ion Batteries are used in EVs, storage for renewable energy, and electronics.

The target is to have battery cells and a capacity of 100 giga watt hour (GWh) by 2030.

A total investment of ₹30,000 crore to ₹35,000 crore will be required to complete this.

There are 6 companies that have their eyes on the EV battery value chain:

Signed a strategic agreement with a global battery producer to foray into the electrolyte additives space. 

Aether Industries Limited

Return 1Y: -5.19% | CMP: ₹ 848.15

Spending 4800 Cr to setting up a facility to manufacture Lithium Ion Battery components.

Himadri Speciality Chem.

Return 1Y: 315% | CMP: ₹ 373

It signed a non-binding MoU with a global Electrolyte manufacturer.

Ami Organics Limited

Return 1Y: 25% | CMP: ₹ 1086

Recently an agreement to acquire the electrolytes manufacturing technical license.

Neogen Chemicals Ltd.

Return 1Y: 16% | CMP: ₹ 1408.25

Will manufacture batteries for EVs using their fluorine chemistry skills to make battery chemicals.

Gujarat Fluorochemicals

Return 1Y: 38% | CMP: ₹ 3590

It hasn't addressed EV chems. directly but hints at a potential link between Soda Ash and Lithium.

Tata Chemicals Limited

Return 1Y: 5.62% | CMP: ₹ 1009