India’s battery story gets a boost as Neuron Energy raises ₹31 crore to power up EV battery production and build a 3 GWh capacity plant

A fresh wave of confidence in India’s EV battery industry came this week, as Neuron Energy secured ₹31 crore in a pre-Series B funding round, backed by investors such as Equanimity Ventures, the Rajiv Dadlani Group, and other prominent equity backers.

The funding will be channelled into a new manufacturing facility at Chakan, Pune, one expected to push Neuron’s production capacity to 3 GWh annually, with a focus on batteries for four-wheelers, buses and other heavier EV segments. The facility is planned to be fully automated, indicating a serious push towards scale and industrial-grade manufacturing.

Beyond capacity expansion, Neuron is investing in R&D, aiming to develop next-gen battery packs and smart battery-management systems, and likely exploring advanced energy storage solutions, including potential sodium-ion technologies. That would align with broader global and national trends seeking diverse, cost-effective battery chemistries.

Financially, the company is optimistic too. With existing operations and the new investment, Neuron expects revenue around ₹200 crore in the current year, and a long-term target of ₹900 crore to ₹1,000 crore (or more) in the coming years, depending on market growth and adoption pace.

In the larger picture, this development matters a lot for India’s EV ecosystem. Increased domestic battery production reduces dependence on imports, strengthens supply chain security, and supports automakers and fleet operators seeking reliable, homegrown battery solutions. As EV adoption grows across 2-wheelers, cars, buses and commercial vehicles, expanded battery manufacturing capacity becomes a critical foundation.