Time Technoplast Ltd., through its subsidiary Power Build Batteries Private Limited (PBBPL), has received approval from the International Centre for Automotive Technology (ICAT), a division of the National Automotive Board (NAB), Government of India, for the manufacturing of e-rickshaw batteries. This certification is an important milestone, as ICAT approval is mandatory for supplying products to automotive Original Equipment Manufacturers (OEMs). It validates that PBBPL’s e-rickshaw batteries meet stringent standards for quality, safety, and performance, in line with both national and international benchmarks.
The batteries incorporate advanced lead-acid technology with pure Lead-Selenium alloy, delivering high efficiency, long life, and reliable performance. With up to 450 cycles, reduced water loss, and fast recharging, they are designed to support India’s shift toward clean and sustainable mobility. By powering e-rickshaws, these batteries promote eco-friendly transportation while minimizing carbon emissions.
With 1.6 million e-rickshaws currently operating in India and around 400,000 new vehicles added each year, the demand for reliable, cost-effective batteries is rapidly growing. The e-rickshaw battery market is estimated at ₹26,400 crore (~US $736 million) as of March 2025 and is projected to expand at a CAGR of approximately 25 percent. Following brownfield expansion at existing PBBPL manufacturing facilities, these batteries are expected to generate around ₹150 crore (~US $17 million) in revenue over the next three years.
