Energy management vendor Acme Group on Wednesday announced its partnership with Samsung SDI to manufacture and market lithium ion batteries in telecom, solar power and defence sectors in India and Africa.
Acme, which has the exclusive right to use Samsung SDI’s technology, will aim sale of up to 110 MWh of lithium ion batteries by FY 2016.
KH Kim, vice president – Marketing and Sales, Samsung SDI, said the alliance is aimed at expanding its energy storage system in India and Africa markets.
The Indian battery industry in India has been registering a CAGR of around 20 percent over the last few years.
Frost & Sullivan says the global market for Li-Ion segment was around $11.7 billion in year 2012 with 64 percent share of consumer batteries i.e. mobile phone, cameras, laptop, tablet PC and power tools, etc. This is expected to grow to double by 2016 and the share of consumer batteries in the overall segment to be reduced to 52 percent and industrial usage to grow multi-fold.