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Wednesday, April 24, 2024

How Log9 Materials became India’s largest maker of EV batteries

In this article, we look at Log9 Materials, a Bengaluru-based company that manufactures lithium-titanium-oxide batteries for electric vehicles and invests in climate-tech firms.

Deeptech battery installation Log9 Materials thinks that material science may help our country become self-sufficient and self-sustaining. With this conviction, the business is developing lithium-titanium-oxide batteries for the country’s EV (electric vehicles) market. Initially, the Bengaluru-based business produced graphene-enhanced goods such as air filters, smoke filters, and oil filters for use in a variety of sectors.

The firm made a significant breakthrough in 2019 when it opted to join the EV industry with its RapidX battery line. In 2019, the business began experimenting with new battery technology and created an EV battery testing pack. A year later, it introduced the RapidX line of ‘fast-charging’ batteries built in India for India and the tropical belt.

Log9 expects that RapidX will reshape the country’s EV sector, which is heavily reliant on imports to satisfy demand. According to the business, its batteries last nine times longer than ordinary batteries and can be charged in under 15 minutes for two-wheelers and 35-40 minutes for three- and four-wheelers. The batteries are likewise long-lasting, lasting over 15 years. The batteries are built with lithium-ion cells created at the company’s Jakkuru factory near Bengaluru.

Log9 has partnered with Metastable Materials, a Bengaluru-based business with proprietary lithium-ion recycling technology, to minimise the carbon impact of its batteries. With a recovery rate of more than 90%, the method aids in the extraction of a wide spectrum of materials from batteries.

To assist customers utilise EVs without the stress of upfront payment, the business has also launched BaaS (battery-as-a-service) and MaaS (mobility-as-a-service) models.

Although the BaaS model allows clients to lease Log9 batteries, the MaaS service allows them to purchase EVs powered by Log9 through partnerships with key Manufacturers around the country. Through its investments in firms battling climate change and addressing energy infrastructure concerns, the company is also pioneering other advancements in climatetech.

Log9 invested in Bengaluru-based deeptech firm Chara Technologies last month. The three Log9 founders have individually invested in climatetech business Climes, urban mining startup Metastable Materials, deeptech startup Praan, agri-biotech firm Loopworm, and drone logistics service provider TSaw.

In 2018, Log9 produced what company claims to be India’s first aluminium air fuel cells after a year of rigorous research and tests. Log9 has attained a revenue rate of $20 million a year after entering the EV business. Since its establishment, it has raised $65 million.

Log9 intends to utilise the new funds to increase its battery manufacturing capacity from 250 MWh to 2 GWh by the end of 2024, as well as to launch India’s first fully integrated lithium-ion cell production line. Around Rs 100 crore would be invested in cell and battery technology stack developments.

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Taushif Patel

Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

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