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Metals giant Hindalco has signed an MoU with Israeli firm Phinergy & IOC Phinergy, a JV between Phinergy and Indian Oil Corporation, to produce aluminium-air batteries for EVs.
According to the MoU, Phinergy and IOC Phinergy will be exclusive partners of Hindalco in India for R&D and pilot production of the aluminium plates for the batteries as well as recycling the aluminium after usage of these batteries.
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In these aluminium-air batteries, energy is released when aluminium reacts with oxygen in ambient air to produce aluminium hydroxide. Due to its lightweight and high energy density, an aluminium-air battery significantly increases the driving range of EVs. It also enables quick refuelling and eliminates the need for expensive nationwide charging networks. Moreover, these batteries are expected to speed up India's transition to zero-emission mobility and improve EV adoption.
These batteries are a suitable alternative to the existing popular lithium-ion batteries since they do not have the drawbacks that lithium-ion batteries have such as vulnerability to high temperatures, overcharge/discharge protection, etc. on top of being potentially cheaper, safer and providing a greater range.
"Climate action is integral to our business and our partnership with Phinergy and IOP is a significant step towards decarbonising mobility. The partnership is also a testament to Hindalco's globally recognised capabilities in innovation and R&D and we are happy to contribute to the development of the Aluminium-air battery. India has an abundance of aluminium resources and this technology can help enhance the nation's energy and resource security,” Hindalco MD, Satish Pai, said.
This is an effort to reduce India's dependency on imported materials, especially those from China. Lithium is a scarce resource in India but India has large aluminium reserves. Hindalco is the world's largest producer of aluminium by revenue.
The stock of Hindalco has been declining consistently since late March but has been showing signs of recovery as the stock closed at Rs 367.95 per share, down 42% in 3.5 months.
Article by Aman Agarwal.
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