Time Technoplast subsidiary gets e-rickshaw battery certification

Time Technoplast Ltd. announced that its subsidiary, Power Build Batteries Private Limited (PBBPL), has received approval from the International Centre for Automotive Technology (ICAT) for its "eSTART with SELENIUM" brand e-rickshaw batteries. This certification confirms that the product successfully met all testing requirements and received a test report approval from ICAT for two battery variants. This is a mandatory requirement for supplying products to the automotive industry, including original equipment manufacturers (OEMs).

The e-rickshaw batteries utilize advanced lead-acid technology with pure Lead-Selenium alloy, offering high performance, low cost, safety, and efficiency with up to 450 cycles. India's e-rickshaw market, as of March 31, 2025, accounts for approximately 1.6 million vehicles, driving a INR 6,400 crore battery market. With 400,000 new e-rickshaws added annually, the market is projected to expand at a CAGR of approximately 25% in the coming years.

Time Technoplast estimates that this standalone product will generate approximately INR 150 crore in revenue over a three-year period, supported by a brownfield expansion at existing PBBPL manufacturing locations. The company highlights superior durability and cost-effectiveness compared to lithium-ion batteries.