A major Indo-Japanese joint venture has been formed to produce solid LiPF6 electrolyte salt for lithium-ion batteries, with Neogen Ionics Limited (a subsidiary of Neogen Chemicals) partnering Morita Investment Limited to create Neogen Morita New Materials Limited (NML), finalized on August 31, 2025.

Neogen Ionics and Morita Investment will establish NML in India to manufacture solid LiPF6 electrolyte salt and related materials, leveraging Morita’s three decades of LiPF6 technology.

The collaboration is pitched as advancing India’s Aatmanirbhar Bharat initiative by boosting domestic value addition and substituting imports to improve cost efficiency, reliability, and supply speed.

NML is described as the sole non-FEOC compliant electrolyte salt plant in India, designed to deliver cost efficiency, fast supply, and reliable delivery while diversifying supply chains away from China.

Dr. Harin Kanani, Managing Director of Neogen Chemicals, said the deal is a pivotal step in India’s energy transition, highlighting the strategic synergy of Neogen’s manufacturing with Morita’s LiPF6 technology and the potential to accelerate access to international markets.

The agreement leverages Morita Group’s 30 years of technology to improve electrolyte salt production, enhance reliability, and speed up international market access and customer approvals.

The signing of the JV agreement on August 31, 2025 is noted as a significant Indo-Japanese collaboration in the lithium-ion battery materials space, aimed at diversifying supply chains away from China.

Neogen Ionics will hold an 80 percent stake in Neogen Morita New Materials, with Morita Investment owning 20 percent after contributing USD 20 million.

The JV aims to expand India’s manufacturing base and support international market reach, aligning with a broader strategy of import substitution and value chain localization.

The venture is expected to accelerate market access, improve cost competitiveness, and broaden the international footprint for Neogen Ionics and its electrolyte products.