In an interview, ANURAG CHOUDHARY, chairman and managing director and chief executive officer, shares insights with Ishita Ayan Dutt about the company's diversification into lithium-ion (Li-ion) battery components and how it will reshape the company, contributing to the top line. Edited excerpts:
Why did you choose LFP as the cathode material?
India being a tropical country with high temperatures makes LFP the best chemistry in terms of safety. In the case of nickel manganese-cobalt (NMC), high temperatures can lead to the release of toxic cobalt oxide, posing a potential hazard. This is conducive to China, the US, and Europe.
The cost of production is also a crucial factor. NMC cathode material, utilising nickel and cobalt, incurs high costs. We believe that the majority of demand will come from the lower economic stratum or economical cars. LFP, due to its cost advantage, will be more prevalent, and that's where Himadri is directing its focus.
You have provided a timeline of 27 to 36 months for the commercial production of the first phase of the plant, which has a capacity of 40,000 tonnes. Do you foresee domestic demand meeting this capacity?
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