Indian Oil, Israeli Company Phinergy to Collaborate on New Electric Vehicle Battery Factory
The two companies first signed a collaboration agreement last year, Indian media reported
Tomer Hadar and Meir Orbach | 13:10 02.09.2019
Indian state-run Indian Oil Corporation Ltd. is set to partner with Israel-based battery developer Phinergy Ltd. to create battery cells for electric vehicles, according to two people familiar with the matter who spoke to Calcalist on condition of anonymity. The two companies intend to open a joint factory in India in 2020 to develop the batteries, the people said. Phinergy has declined Calcalist’s request for comment.