The company has also enlisted Tesla veteran Chaitanya Sharma to assist in developing next-generation lithium-ion batteries based on manganese.
Lohum has committed to an investment of Rs 1,000 crore to develop and manufacture next-generation ‘Manganese-rich’ LMFP (Lithium Manganese Iron Phosphate) batteries over the next three years. The strategy involves establishing a production capacity exceeding 20 GWh.
Furthermore, the company has engaged Tesla veteran Chaitanya Sharma to spearhead the development of these advanced manganese-based lithium-ion batteries. Previously, the firm, which specializes in recycling critical minerals, inked a Memorandum of Understanding with the Tamil Nadu government to establish a comprehensive recycling and Cathode Active Material production facility within the state.
The innovative LMFP battery chemistry not only enhances safety but also extends the driving range of electric vehicles (EVs), offering a more economical alternative to traditional battery technologies. Major global EV manufacturers such as Tesla, BYD, and CATL are heavily investing in LMFP technology. Significantly, India holds one of the world’s largest reserves of manganese, positioning this initiative as a strategic move to mitigate risks associated with the lithium-ion battery supply chain from international disruptions, thereby bolstering the nation’s energy security.
Rajat Verma, Founder and CEO of LOHUM, emphasized the strategic significance of LMFP technology, explaining that its development will accelerate the energy transition. This is due to its provision of higher energy densities, enhanced cost-effectiveness, improved safety, sustainability, and better thermal adaptability of batteries to climate change. Verma also highlighted that LMFP technology is crucial for supporting India’s electric vehicle market and acts as a fundamental component towards achieving India’s energy independence.
