China's Envision Group: Betting $34M on India's Battery Boom

China’s Envision Group is exploring plans to establish a battery manufacturing facility in India as the country accelerates efforts to modernise its energy grid and integrate more renewable power.

According to Suman Nag, Envision’s Global Head for Contracts, the company aims to set up a five-gigawatt-hour annual capacity unit valued at USD 34 million once market conditions strengthen. While battery cells will be sourced from China, the India facility would focus on locally producing racks and software infrastructure. Emphasising the need for meaningful localisation, Nag noted, “Just passing the equipment through our books and counting it as sales adds no value to our company in India.”

With India’s energy storage capacity expected to rise to 46 GW by 2032, Envision is positioning itself to tap into the rapidly growing market.

News by Rahul Yelligetti.