China’s Cosmx ties up with Munoth Industries in JV to source lithium-ion cells in India

China’s Cosmx, the world’s second-largest supplier of battery packs for smartphones, has signed a joint venture agreement with Chennai-based Munoth Industries to source lithium-ion cells. The collaboration is part of Cosmx’s strategy to strengthen its presence in India and increase supply to Chinese smartphone manufacturers.

The agreement comes after the company failed to secure approval from the Indian government to build its own cell manufacturing plant. Instead, the company has decided to collaborate with a local partner, Cosmx chairman and president Yanming Xu told ET in his first interview with reporters.