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Lucas TVS, a key player in auto electrical manufacturing, is strengthening its position in the electric mobility sector by expanding battery pack production and venturing into energy storage. Through its subsidiary, TVS Indeon Ltd, the company is ramping up manufacturing capacity while working toward developing an indigenous battery ecosystem. The company’s battery pack facility, operational since 2024 in Thervoy Kandigai, Gummidipoondi, near Chennai, currently produces 1,500 battery packs per day. “We are operating in a single shift with 500 packs per shift but will soon introduce a second shift, followed by a third shift by mid-next year to reach full capacity,” said TK Balaji, Chairman & Managing Director of Lucas TVS and TVS Indeon Ltd. The expansion will double production and create over 200 jobs. Lucas TVS has invested ?200 crore in manufacturing and R&D as part of its efforts to localize battery technology. The company aims to scale up production of its battery packs after customer approvals, with a long-term goal of manufacturing battery cells in-house. “Developing an entire battery ecosystem indigenously is a complex challenge, but we are taking a phased approach,” Balaji said. The company is also focusing on improving battery efficiency, working to increase energy utilization from 30% to 60-70%, which would either double energy output for the same battery pack size or enable more compact and efficient designs. Currently, Lucas TVS supplies battery packs mainly to TVS Motors but plans to expand its customer base to other OEMs. Its EV business is in the early stages but is expected to generate ?200-300 crore in revenue within the next few years. Beyond electric mobility, Lucas TVS is entering the energy storage market, particularly in renewable energy storage solutions. “Battery Energy Storage Systems (BESS) is the most widely adopted solution for energy storage, and we see significant potential in this sector,” Balaji said. “With TVS Indeon, we aim to establish a strong presence in both the EV and energy storage markets,” added Arvind Balaji, Director of TVS Indeon Ltd. Lucas TVS, along with its affiliated companies, currently generates ?7,000 crore in consolidated revenue and expects to grow this to ?8,000-9,000 crore in the coming years. |
