Lucas TVS, a key player in auto electrical parts, plans to strengthen its position in electric mobility by developing an indigenous battery ecosystem and expanding into energy storage.

Through its subsidiary TVS Indeon, the company has entered EV battery pack manufacturing and is increasing production capacity at its Thervoy Kandigai facility near Chennai. With the introduction of a second shift, daily production will double to 1,000 battery packs, creating employment for over 200 people.

Lucas TVS has already invested Rs 200 crore in manufacturing and R&D to establish a self-reliant battery ecosystem in India. The company aims to localise battery technology, with future plans to manufacture battery cells in-house. Lucas TVS is also innovating to improve battery efficiency, working to increase energy utilisation from 30 percent to 60-70 percent. This would either double energy output for the same battery size or reduce battery dimensions while maintaining capacity.

Currently supplying battery packs mainly to TVS Motors, the company intends to expand to other OEMs. The EV business is in its early stages, but Lucas TVS expects revenue of Rs 200-300 crore within a few years.

Beyond electric mobility, the company is targeting the energy storage sector, particularly renewable energy storage solutions.