Left Menu
Development News Edition

Pinnacle and Phylion Reach Strategic Cooperation in India


Pinnacle and Phylion Reach Strategic Cooperation in India

Pinnacle has partnered with Phylion Battery Company Ltd to set up a battery assembly unit in Maharashtra for electric vehicles

PUNE, India, Jan. 16, 2020 /PRNewswire/ -- Pinnacle Industries Limited, has partnered with Phylion Battery Company Ltd for the launch of its integrated lithium-ion battery assembly facility in Maharashtra, India. The new facility was inaugurated today. The state-of-the-art assembly unit is now fully operational and will start rolling out FAME II compliant products for Indian market.

Pinnacle is India's leading Commercial Vehicle Components Company while Phylion Battery Company is a leader in the lithium-ion battery manufacturing for light electric vehicles.

Since its inception in 2003, Phylion Battery has been on an expansion spree in Europe and Asian markets. Recently it marked the manufacturing of its 10 millionth batteries in China for LEV.

Phylion entered the Indian market over 4 years back and has now become the industry leader of the lithium-ion battery cell for the Indian EV market along with fast after sales services.

Pinnacle Industries Ltd plans to roll out battery packs with Phylion Cells and SKD Kits for Light Electric Vehicles, Logistics Vehicles, Passenger Cars, Vans, Light Commercial Vehicles etc. from its assembly unit.

As per industry reports, the market for lithium-ion battery in India is expected to grow at a CAGR of approx. 34% during the forecast period of 2019 - 2024. Factors such as decline in lithium-ion battery prices along with the emergence of new and exciting markets, i.e., electric vehicle and energy storage systems (ESS), for both commercial and residential applications are expected to be the major drivers for the lithium-ion battery market in India.

Speaking about the association, Mr. Sudhir Mehta, Chairman & Managing Director, Pinnacle Industries Limited, highlighted, "Being one of the long-term players in automotive component manufacturing, we understand the importance and need for organized, integrated, credible and safe EV battery assembly facility in India. There is immense market potential and dire need to localize manufacturing of EV batteries, to bring down the vehicle cost and make EV's more viable, benefit the small OEMs to get localized products for low speed vehicles and other applications, and improve the after sales service. We look forward to address the existing industry gaps with our association with Phylion and Government's impetus on electrification of vehicles through its various policies."

Speaking about the launch, Mr. Andrew LEE, Vice President, Phylion, highlighted, "We are elated to partner with Pinnacle Industries, to cater to the expanding Indian EV market. Our strategy is to use our 16 years market approved lithium-ion cells to help Pinnacle to develop batteries with optimized cost and performance for Indian temperatures."

"We have been committed towards providing high quality and safe products and we look forward to scaling up the renewable manufacturing in India."

About Pinnacle Industries:

Pinnacle Industries Limited was set up in 1996 in Pithampur, near city of Indore in Madhya Pradesh (INDIA). Over the last several years Pinnacle has continuously invested in and expanded its technology partnerships, manufacturing systems, product range and clientele to emerge as India's largest commercial vehicle, bus seating and Interiors Company. With a diversified group of companies in seating & interiors, specialty vehicles, irrigation, retail store solutions, financial services & engineering services, Pinnacle directly impact the top and bottom line of businesses in India and around the world.

About Phylion:

Founded in 2003, Phylion Battery Co., Ltd. is now an industrial leader specializing in the R&D, production and service support of power lithium-ion batteries. With the self-developed lithium-ion prismatic cell, Phylion is committed to offering safe, reliable and cost-effective products applied in EV/HEV, Light EV, Energy Storage, etc., also provides complete solution in area of equipment selection, optimum manufacturing layout, installation, operation and maintenance.

Phylion has accumulated profound market experience with more than 16 years in China, 10 years in Europe and 4 years in India and takes pride on the manufacturing of 10th million battery packs from assembly line in 2019. Phylion constant emphasis on new technology and innovation to match new model requirements. It will expand a broader market besides China, Europe and India to contribute to the global e-mobility.

Photo: https://mma.prnewswire.com/media/1077822/Pinnacle_Phylion.jpg

PWR PWR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...

SDG2030: Challenges of technological applications in advancing Global Goals

Application of contemporary and future information technologies may go milestones in advancing sustainable development goals SDGs provided the challenges are overcome and implementation is ensured....

Videos

Latest News

Cyberthreat incidents drop in India, says Kaspersky

Cyberthreat incidents dropped in India last year as the country made progress in fight against cybercriminals, cybersecurity company Kaspersky said. India has shown a positive progress in their fight against cybercriminals. The country rep...

New Delhi, Jan 21 (PTI) These are the top stories from the northern region at 4.45 pm.

These are the top stories from the northern region at 4.45 pm. DEL33 UP-SHAH Despite protests, CAA will not be withdrawn Amit Shah Lucknow Attacking the opposition for misleading people on the Citizenship Amendment Act, Union Home Min...

Cameroonian soldiers go on trial over shooting of women and children

The trial of seven Cameroonian soldiers accused of participating in the killing of two women and two children has begun behind closed doors, two judicial sources said on Tuesday, after a video of the incident sparked an international outcry...

Franklin Templeton's Zahn short British gilts as fiscal expansion looms

Franklin Templetons head of European fixed income David Zahn said on Tuesday he has moved to a short position in UK government bonds, given expectations the government will ramp up spending at the next budget. British finance minister Sajid...

Give Feedback