Indo National Explores EV Battery Market and E-Waste Recycling Entry.

Indo National Ltd (INL), the maker of Nippo batteries, is venturing into the electric vehicle (EV) battery sector and battery recycling. The company is exploring potential investments and partnerships with start-ups in these areas, with a focus on EV battery management systems and charging infrastructure.

“We are open to either investing or partnering strategically with start-ups in the EV space. Currently, we are in talks with three start-ups—two in Series A funding and one at the pre-seed stage,” said Pavan Kumar BVS, Chief Operating Officer of Indo National Ltd. These start-ups are working on cutting-edge technologies related to EV battery management and charging solutions.

INL is considering a range of approaches to expand its presence in the sector, including direct investments and joint ventures. The company aims to leverage its manufacturing expertise alongside the innovation and R&D capabilities of start-ups to bring new products to market. “Start-ups are excellent at prototyping and product innovation, while we have the infrastructure to scale, commercialize, and distribute products through our extensive network,” Kumar added.

The company is also actively exploring opportunities in battery recycling and e-waste management, focusing on partnerships with both Indian and international companies. It is currently in discussions with two start-ups in India and established players in Australia and Singapore, all of whom have advanced recycling technologies. INL plans to act as a local partner, providing distribution and logistics support in India.

Kumar emphasized that one of the main challenges in battery recycling is the collection process. To address this, INL intends to utilize its distribution network to create efficient reverse logistics systems for collecting used batteries and e-waste.

Recycling offers a variety of potential by-products, including materials that can be repurposed as fertilizers, chemicals, or even paints. Additionally, valuable materials like zinc, which is commonly used in zinc-carbon batteries, can be recycled and reused in manufacturing. Kumar highlighted that zinc recycling, in particular, is highly lucrative, with prices reaching $2,900 per tonne and appreciating by 10-15% annually.

“These efforts are part of our broader strategy to create a sustainable business model while tapping into the growing EV and recycling markets,” Kumar concluded, noting that INL’s involvement in these sectors could generate significant new revenue streams.

HBL