India’s battery materials industry just got a powerful push forward.
Neogen Chemicals Ltd has finalized its joint venture agreement with Japan’s Morita Investment Limited, a subsidiary of the century-old Morita Chemicals Industries. This comes after the initial signing in August 2025, marking a major step toward strengthening India’s presence in the fast-growing Lithium-Ion Battery market.
What This New JV Means
A new company, Neogen Morita New Materials Limited (NML), will drive the partnership.
- Neogen Chemicals (through its subsidiary) will hold an 80% stake.
- Morita Investment will hold 20% by investing $20 million.
- NML will focus on producing solid LiPF6 salt, a key component in Lithium-Ion battery electrolytes, along with other related materials.
LiPF6 is one of the most critical ingredients in EV battery manufacturing — and demand is skyrocketing globally.
A Big Win for India’s Battery Supply Chain
This JV stands out for several reasons:
- One of the first Indo-Japan collaborations in the battery materials space.
- Helps diversify supply chains beyond China, a global strategic priority.
- Creates India’s only non-FEOC-compliant electrolyte salt plant, offering faster supply and better cost efficiency.
- Strong alignment with Aatmanirbhar Bharat, boosting domestic production and cutting imports.
- Gives Neogen Chemicals access to 30+ years of Morita’s proven electrolyte technology, helping improve efficiency and reliability.
This move positions the company strongly as India scales up its EV and energy-storage ambitions.
What the Managing Director Said
Dr. Harin Kanani, MD of Neogen Chemicals Ltd, called the JV a major milestone for the company and for India’s energy transition journey. He highlighted the advantage of blending Neogen’s manufacturing capabilities with Morita’s globally validated technology, enabling better cost competitiveness, higher efficiency, and quicker access to international markets.
A Quick Look at the Companies
Morita Chemicals Industries (Japan)
- Operating for 100+ years
- Leading global manufacturer of LiPF6 electrolyte salts for over three decades
- Presence in 31 countries
- Plants in Japan and China, serving global battery manufacturers
Neogen Chemicals Ltd (India)
- Founded in 1989
- A major producer of specialty chemicals, including Lithium- and Bromine-based chemicals
- Products used across pharma, agrochemicals, electronics, polymers, water treatment, construction, and fragrances
- Facilities across Maharashtra Gujarat Hyderabad
Its subsidiary (NIL) is actively expanding Lithium-Ion battery material manufacturing, including upcoming projects in Pakhajan and the early electrolyte facility at Dahej SEZ.
Stock Update
Neogen Chemicals’ stock is currently trading near its 52-week low of ₹1125.30, significantly lower than its 52-week high of ₹2420. With this JV now finalized, investors may watch closely for growth catalysts in the EV materials segment.
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