Hindalco Industries, an aluminum rolling and recycling company, has unveiled plans to establish a new battery foil manufacturing facility in Odisha with an investment of ₹800 crore. The plant, located in Sambalpur, aims to be operational by 2025, initially producing 25,000 tonnes of battery foil crucial for Lithium-ion and Sodium-ion cell production.
The announcement led to a surge in Hindalco Industries’ shares, reaching a 52-week high of ₹538.70 per share on BSE. The move reflects the company’s strategy to tap into the growing electric vehicle (EV) market in India, where demand for battery materials is rising.
Satish Pai, Managing Director of Hindalco Industries, emphasized the importance of raw material localization in strategic sectors like EVs and grid storage. The company’s expertise in metallurgy, sheet, and foil rolling, coupled with access to its aluminum metal, positions it as a strong player in the battery materials market.
Hindalco’s Mouda unit in Maharashtra is already in the process of qualifying with Lithium-ion cell manufacturers globally. The new unit in Odisha will further enhance the company’s capabilities to supply materials to Gigafactories worldwide.
High-performance aluminum foils are essential for battery cell manufacturing, serving as current collectors for cathode materials. Hindalco is also focusing on developing coatings for battery foils to improve battery performance by enhancing adhesion, reducing resistance, and minimizing corrosion, leveraging its robust research and development capabilities.
In a recent initiative, Hindalco pledged support for the International Aluminium Institute’s new greenhouse gas (GHG) initiative launched at the UN Climate Change Conference (COP28).
