Napino Auto & Electronics Ltd has signed a Memorandum of Understanding (MoU) with Farasis Energy USA, Inc. to provide lithium ion battery packs for 2W and 3W for the Indian market. Farasis is one of the market leaders in providing high energy density lithium ion battery cells and packs to automotive OEMs globally and has end to end capability and expertise from cells to applications.
Under this MoU, Napino and Farasis shall jointly develop the business in India. Napino will bring its rich automotive experience in mass production and strong supply chain to provide an optimal solution for the Indian market.
Commenting on the alliance, Mr. Naveen Kumar, CEO, Napino Auto & Electronics Ltd. said, "Our partnership with Farasis Energy comes in at the right time with the governments push to promote faster adoption of EVs. The manufacturing of battery packs is an integral part of our e-mobility strategy. It is our aim to be a leading provider of safe, reliable and high energy battery packs for the Indian market and we are very optimistic about the success of our collaboration with Farasis Energy which will support us to localize cutting edge Lithium ion battery pack technology for our customers."
Thanh Nguyen, Vice President of Sales and Marketing said, "We are very excited about the partnership with Napino for providing battery packs for electric vehicles. Given the huge potential offered by the Indian market, we foresee that India will become one of the largest e-mobility markets in the world. This strategic collaboration will enable us to access this fast growing market."
Farasis Energy is striving for strong growth and sustained profitability by supporting its customers in product design optimisation to achieve optimal energy density and performance with the lithium-ion technology, accompanied by maximum safety. Being an early mover in the electric mobility segment, Napino is already supplying various electronic based products to EV manufacturers in India. Napino also has a highly experienced and dedicated R&D team, working aggressively on development of various components of e-mobility.
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