Cells assembled into modules and packs with a battery management system, or into 20-foot grid-storage containers.
Pack makers weld cells into modules, add cooling, wiring and a battery management system (BMS) that monitors every cell, and test the finished pack for a vehicle or a BESS container. Container makers add power conversion, fire suppression and controls.
Assembly is where India already has capacity - Waaree, JSW, Reliance, Exide and Amara Raja all run or are building pack and container lines - but it captures only a small share of value while the cells inside are imported. Pack makers are the natural first customers for local cells.
Low-to-mid margins and low barriers: many players, mostly assembling Chinese cells. Value rises with BMS software, thermal design and integration with the vehicle or grid.