Grinntech, a start-up working on Lithium Ion batteries for electric vehicles, has raised nearly $2 Million from four investors. The Startup incubated at IIT Madras also plans to start manufacturing their product at a facility ,a Li-Ion battery making unit in Chennai
The company is also in talks with with domestic and overseas electric vehicle makers, power drive makers and also battery manufacturers for business. Grinntech is already manufacturing batteries for two wheeler and three wheeler vehicles.
The policy initiatives taken in the country and the other developments on Li-Ion battery can be read here.