Time Technoplast Subsidiary Gets ICAT Approval for Manufacturing E-Rickshaw Batteries

Time Technoplast Ltd announced that its subsidiary, Power Build Batteries Pvt Ltd (PBBPL), has received approval from the International Centre for Automotive Technology (ICAT) for manufacturing E-Rickshaw batteries under the brand ‘eSTART with Selenium’. 

The certification marks a key milestone, ensuring compliance with national and international standards required for Original Equipment Manufacturers (OEMs).

Technology and Product Highlights

The newly approved batteries incorporate advanced lead-acid technology with pure lead-selenium alloy, offering enhanced durability, reduced water loss, faster recharging, and up to 450 charge cycles. Time Technoplast noted that these batteries are lightweight, cost-effective, and designed for superior safety and performance compared to lithium-ion alternatives.

The product is positioned to support India’s shift toward clean and sustainable mobility, with e-rickshaws playing a pivotal role in promoting low-emission transport solutions.

Market Potential and Business Outlook

With India’s e-rickshaw market projected to grow at a 25% CAGR, the demand for reliable and efficient batteries continues to surge. As of March 2025, there are 1.6 million e-rickshaws in India, driving a ₹26,400 crore (~$736 million) battery market. 

Time Technoplast estimates that this product line could generate around ₹150 crore (~$17 million) in revenue over the next 3 years following brownfield expansion at PBBPL’s manufacturing facilities.

Read More: Hydrogen Drone Partnership: Time Technoplast and DroneStark Sign 3-Year MoU!

Time Technoplast Share Price Performance 

As of October 20, 2025, at 11:08 AM Time Technoplast share price is trading at ₹225.79 per share, reflecting a surge of 0.99% from the previous closing price

Conclusion

The ICAT certification strengthens Time Technoplast’s position in India’s evolving electric mobility sector, paving the way for large-scale supply to OEMs and reinforcing its focus on sustainable innovation.

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