Sodium-ion battery maker Faradion mulling over manufacturing in India

Sodium-ion battery maker Faradion Ltd on Thursday said it is actively exploring having a manufacturing presence in India for its batteries for diversified applications. The company, which had won its first order from ICM Australia, is seeking to push its Sodium-ion batteries over Lithium-ion batteries citing "exceptional superiority" and play a significant part in revolutionising automobile/mobility, storage and mobile sectors across the world.

"India is one of the largest markets for mobile devices across the world. Recently, the country has also demonstrated significant progress in the adoption of EV (Electric Vehicle) technology, making it a priority market for Faradion," the company said in a statement. Further, as the world seeks out alternatives to China-dependent Lithium-ion batteries, Faradion's Sodium-ion based technology offers a promising solution, it claimed.

"In line with this, Faradion is actively exploring manufacturing presence in India for its Sodium-ion batteries for diversified applications," the company said. Faradion CEO James Quinn said Australasia is the next logical region for the company given the market conditions.

“Faradion is accelerating large scale industrialisation of its safe, low cost, Sodium-ion energy storage technology. After Australia, we foresee India as our next priority big market, given the huge growth in mobile devices and a bigger electric mobility market waiting to grow rapidly," he said..