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					</table><p><a href="https://www.neuronenergy.in/" target="_blank" rel="noopener">Neuron Energy</a>, a Mumbai-based lithium-ion battery manufacturer, will invest ₹500 million ($6.04 million) to increase production capacity.</p>
<p>The investment will be split into ₹350 million ($4.2 million) of working capital and ₹150 million ($1.8 million) of equity from the promoters and strategic partners.</p>
<p>A portion of the funds will be used to increase capacity, while 40% of it will be directed toward fulfilling orders from large original equipment manufacturers (OEMs).</p>
<p>The investment will also help the company increase its cash flows.</p>
<p>As part of its expansion plans, Neuron has planned to construct a mega-plant serving the 2-wheelers and 3-wheeler segment of Electric Vehicles (EV).</p>
<p>The company said the decision to invest is in response to the increasing demand for Li-ion batteries, which testifies to the growing popularity of electric mobility.</p>
<p>Pratik Kamdar, Co-Founder of Neuron Energy, said the company planned to expand production capacity and enhance research and development.</p>
<p>“This investment will help us equalize the demand-supply ratio for batteries,” he said, expressing confidence about meeting the growing order book.</p>
<p>The company said its battery product line used a microprocessor-based battery management system.</p>
<p>Other features include four temperature sensors, appropriate cell spacing for thermal management and the Neuron App for remote assistance.</p>
<p>Neuron also has plans for backward integration into stocking raw materials and handling production with a contract manufacturer.</p>
<p>The company provides lead-acid and lithium-ion technology batteries for E-Bike, E-Rickshaws, and Golf Carts.</p>
<p>Recently Nitin Gadkari, Minister of Road Transport and Highways, <a href="https://mercomindia.com/two-and-three-wheelers-dominate-indias-registered-electric-vehicles/" target="_blank" rel="noopener">told</a> the Lok Sabha that India had more than 1.8 million registered EVs, with Uttar Pradesh accounting for nearly 23% of the total at 0.41 million.</p>
<p>Of the total EVs in the country, more than half, or 0.92 million, are three-wheelers used for commercial transport. This is followed by 0.8 million two-wheelers meant for personal use.</p>
<p>A recent study said that the adoption of zero-emission vehicles <a href="https://mercomindia.com/over-10-million-electric-vehicles-in-2022-up-60-yoy-bnef/" target="_blank" rel="noopener">accelerated</a> in 2022 across markets. It is estimated that 60% more EVs, totaling 10.6 million, will be sold globally in the current year compared to 2021.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Neuron Energy to Invest ₹500 Million in Increasing Lithium-Ion Battery Production

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