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Lucas TVS, EV battery startup 24M Technologies sign agreement to set up a Gigafactory in Chennai

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Lucas TVS plan to scale up the production capacity to 10 GWh in two phases

Indian automotive electrical components manufacturer Lucas TVS Ltd. has signed a license and services agreement with US-based battery startup 24M Technologies, Inc., to set up the country’s first Gigafactory using the latter’s innovative and disruptive SemiSolid lithium-ion (Li-ion) technology, the companies said in a press announcement on 1 September.

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