To meet the surging demand for EVs, Vedanta Nico signs a pact with Æsir Technologies for the supply of nickel, a critical component for next-generation batteries.
On Monday, Vedanta Nico, a subsidiary of Vedanta Ltd, signed a strategic Memorandum of Understanding with AEsir Technologies, Inc., a US-based innovator in advanced battery technologies. Under the MoU, Vedanta Nico will be the preferred supplier of nickel, a critical component in AEsir Technologies’ next-generation batteries. This partnership can potentially revolutionise the industry, as it will be used to develop and commercialize cutting-edge nickel-zinc (NiZn) batteries for critical infrastructure, 5G telecom, and electric vehicle chargers.
Nickel-zinc batteries, with their unique features of higher energy density, power, enhanced cost efficiency, rapid charging, and superior performance, promise substantial advantages over current battery technologies. This makes them an ideal choice for the rapidly growing energy storage and EV market.
Nickel-rich batteries, such as Nickel-Zinc variants, offer best-in-class fast charging, reduce reliance on cobalt, and improve the overall EV value proposition. The global demand for nickel in batteries is projected to surge from 1.50 lakh tonnes in 2020 to 500,000 tonnes by 2025, driven by the expanding EV market adoption.
Prashuk Jain, Vedanta Nico’s COO, reassured the audience, stating that the company’s extensive expertise in nickel production, combined with AEsir’s innovative zinc battery technology, will deliver a product that not only meets but exceeds the industry’s evolving needs.
