Mahanagar Gas Ltd (MGL) is in talks with major two-wheeler manufacturers, including Hero Honda, TVS, and Bajaj, to supply Nickel Manganese Cobalt (NMC) EV Battery Cells by 2026. India’s electric two-wheeler market surged 24% post-Budget. MGL, Partnering with International Battery Company, is setting up a 500MW Cell plant in Karnataka, scaling to 1GW, with a ₹870 crore capex and expected returns of 16-18%.
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