Indian Oil Corporation Ltd (IOCL) has inked a pact with Israeli start-up company Phinergy, specialising in hybrid lithium-ion and Aluminium-Air and Zinc-Air battery systems, to form IOC Phinergy Private Ltd.
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Top automakers, including Maruti Suzuki and Ashok Leyland, have already signed letters of intent with the newly formed joint venture to commercially deploy the battery solutions produced by IOC Phinergy.
Aluminium-air batteries are said to be a lower cost and more energy-dense alternative to lithium-ion batteries which are currently in widespread use for electric vehicles in India.
Aluminium-air batteries utilise oxygen in the air which reacts with an aluminium hydroxide solution to oxidise the aluminium and produce electricity.
Aluminium-air battery-based electric vehicles are expected to offer much greater range of 400 km or more per battery compared to lithium-ion batteries which currently offer a range of 150-200 kilometres per full charge.
The aluminium plate in an aluminium-air battery is converted into aluminium trihydroxide over time and that aluminium can be reclaimed from aluminium trihydroxide or even traded directly for industrial uses.
Aluminium-air based batteries are also expected to be significantly cheaper than lithium-ion batteries, thereby reducing the cost of electric vehicle.
