Low-cost energy storage technology
Faradion Ltd from the United Kingdom has announced a new partnership with Gurgaon-based Infraprime Logistics Technologies (IPLTech) for its use in commercial vehicles in the Indian market.
India has demonstrated a growing appetite for moving towards electric commercial vehicles, driven by the Government’s target of 30% electric vehicle adoption by 2030, noted Faradion in the announcement on 5 June 2020.
It also highlighted India’s US$1.4 trillion infrastructure allocation to be invested by 2025, higher than the UK’s US$35 billion and the US$500 billion) in the same period.
The market for roads and highways is projected to grow at an annual rate of 36% from now to 2025, estimated Faradion.
Faradion’s Sodium-ion technology provides similar performance to conventional chemistries while replacing expensive materials such as cobalt and lithium with the far more abundant sodium.
Unlike lithium-ion batteries, Faradion’s sodium-ion batteries have exceptional thermal stability and safety. Further, they can be safely transported and maintained at zero volts.
IPLTech is a Gurgaon-based heavy goods vehicle fleet service provider that is halving the cost of infrastructure development. It is doing so through an electric fleet complemented by a data layer that organises thousands of small fleet operators.
IPLTech Executive Chairman Siddhartha Das said, “We are driven to minimise the heavy pollution caused by heavy goods vehicles in India. This partnership with Faradion represents a commitment to work with this world-leading sodium-ion technology together to realise this joint vision.”
“Our full electric mega trucks are the first of their kind to be integrated and deployed in India. We believe that the Faradion technology can provide the Indian market an effective solution at competitive prices”, Siddhartha said.
Faradion has seen significant interest in several markets, including the US, Europe and Australia due to its performance, safety and price point.
Faradion CEO James Quinn said India was the next logical region for Faradion, given the market conditions.
Faradion is accelerating large scale industrialisation of its safe, low cost, Sodium-ion energy storage technology and will shortly commence manufacturing in India.
IPLTech is a Gurgaon-based startup that is halving the cost of infrastructure development through an electric fleet complemented by a data layer organizing thousands of small fleet operators. fiinews.com
