<p>Omega Seiki Mobility Pvt. will invest Rs 800 crore to build two facilities in India to manufacture electric vehicle components such as batteries and power trains.</p>.<p>The New Delhi-based company has tied up with startup iM3NY, which manufactures lithium-ion cells in New York, to produce batteries in the country, it said in a statement Sunday. Omega, founded in 2018, has also entered a joint venture with Jae Sung Tech Korea to make electric vehicle power trains locally, it said.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/opinion/panorama/india-a-giant-auto-market-short-of-electric-vehicle-buyers-1182746.html" target="_blank">India, a giant auto market short of electric vehicle-buyers</a></strong></p>.<p>The demand for lithium-ion batteries in India will increase from 3 gigawatt-hour currently to 20 gigawatt-hour by 2030, consultancy Arthur D. Little estimates, making it crucial to ramp up local cell manufacturing capacity. India imports 70 per cent of its lithium-ion cell requirement from China and Hong Kong due to lack of local production. </p>.<p>Omega’s battery facility in Maharashtra will have a capacity of 0.5 gigawatt initially and scale up to 2 gigawatt, the company said. Its power train plant in Haryana will produce 10,000 units in 2024 and 100,000 by the fourth year, it said.</p>
<p>Omega Seiki Mobility Pvt. will invest Rs 800 crore to build two facilities in India to manufacture electric vehicle components such as batteries and power trains.</p>.<p>The New Delhi-based company has tied up with startup iM3NY, which manufactures lithium-ion cells in New York, to produce batteries in the country, it said in a statement Sunday. Omega, founded in 2018, has also entered a joint venture with Jae Sung Tech Korea to make electric vehicle power trains locally, it said.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/opinion/panorama/india-a-giant-auto-market-short-of-electric-vehicle-buyers-1182746.html" target="_blank">India, a giant auto market short of electric vehicle-buyers</a></strong></p>.<p>The demand for lithium-ion batteries in India will increase from 3 gigawatt-hour currently to 20 gigawatt-hour by 2030, consultancy Arthur D. Little estimates, making it crucial to ramp up local cell manufacturing capacity. India imports 70 per cent of its lithium-ion cell requirement from China and Hong Kong due to lack of local production. </p>.<p>Omega’s battery facility in Maharashtra will have a capacity of 0.5 gigawatt initially and scale up to 2 gigawatt, the company said. Its power train plant in Haryana will produce 10,000 units in 2024 and 100,000 by the fourth year, it said.</p>