Eon Electric sets up first plant for manufacturing Lithium Ion Batteries at SIDCUL, Haridwar

Eon Electric Ltd. | Cable | Capital Goods & Industrial Consumables | BSE: 532658 | NSE: EON

17 Sep 2012 Evaluate

Eon Electric, formerly known as Indo Asian Fusegear, observing the sharply rising need of Lithium Ion Batteries for mobile phones, laptops, cameras and tablets due to its unique quality of high storage power and potential of fast re-charging, has set-up first plant in India for the manufacturing of Lithium Ion Batteries.

The pilot plant for Lithium Ion Batteries has already started production by converting cells into complete batteries at company’s state-of-the-art plant at SIDCUL, Haridwar. With detailed planning, imbibing best technological practices and equipment from Japan, Korea and world class producers of Lithium Ion Batteries in China, the plant looks set on the route to success. Furthermore, the total investment on the project in the first phase is projected to be around Rs 50 crore.

Meanwhile, the first phase of company’s production plant is expected to be in place within the year 2012-13 and will be further upgraded for a variety of new types and sizes of Lithium Ion Batteries, which are most compact in size and more efficient in operation and capable of delivering high current for more hours per day before requiring recharging.

Company’s pilot plant is already producing EON batteries which are being delivered to its customers all over the country through its network of dealers and distributors serviced by sales and marketing teams well established in metros and major towns.