Lucas TVS join hands with 24M to set up giga factory near Chennai

Plant likely to begin commercial production in H2 of 2023; Lucas plans to grow capacity to a globally competitive scale of 10 GWh in two stages

Leading automotive electrical components manufacturer Lucas TVS and 24M Technologies, developer of next generation lithium-ion battery technologies, announced the signing of a license and services agreement to construct one of the first giga factories in India using 24M’s SemiSolidTM platform technology.

The first plant will be set up in Thervoy Kandigai, Gummudipundi near Chennai and Lucas TVS expects to build other plants throughout India to support the growing energy storage, electric mobility and lead acid battery replacement markets. The Chennai plant is expected to begin commercial production in the second half of 2023. Based on the aggressive targets set by the