India nurtures the dream of 100% Electric Vehicles (EV) on roads by 2030. Eyeing this, German chemical major BASF plans to pump in fresh investment in the country. The company produced chemicals required in batteries for Evs.
BASF India, Chairman and Managing Director, Raman Ramachandran told Business Line that materials used for making EVs batteries are an area of focussed R&D for the company. In order to become fully electric by 2030 batteries should be manufactured domestically, he pointed out.
BASF India has invested about Rs 40 billion in the country in the last four years. It has nine manufacturing facilities in India, making foam materials used in beds, agrochemicals to vitamins added for reinforcing breakfast cereals.
BASF will focus on storage capacity and longevity of EV batteries. The company has battery producing clients in China, the US and Japan. The research on battery materials is happening in Japan, Ramachandran told Business Line.