Power List 2020

Pinnacle Industries has always been at forefront in bringing our innovative and relevant solutions for the manufacturing industry. Recently, it took a step further to align itself in the changing times. The company partnered with Phylion Battery Company for the launch of its integrated Lithium Ion battery assembly facility in Maharashtra. The state-of-the-art assembly will manufacture FAME II compliant products for Indian market. Pinnacle Industries plans to bring battery packs with Phylion Cells & SKD Kits for range of vehicles, etc.

Being one of the long-term players in automotive component manufacturing, we understand the importance and need for organized, integrated, credible
and safe EV battery assembly facility in India. There is immense market potential and dire need to localise manufacturing of EV batteries, to bring down the vehicle cost and make EV’s more viable, benefit the small OEMs to get localised products for low speed vehicles and other applications, and improve the after sales service. We look forward to address the existing industry gaps with our association with Phylion and Government’s impetus on electrification of
vehicles through its various policies.

As per industry reports, the market for lithium-ion battery in India is expected to grow at a CAGR of approx. 34% during the forecast period of 2019–24. Factors like decline in lithium-ion battery prices along with the emergence of new and exciting markets, i.e., EVs and energy storage systems (ESS) are expected to be the major drivers for the lithium-ion battery market in India.