Himadri Speciality Chemical is expanding into lithium-ion battery materials, including LFP cathodes and anode materials, aiming to become a non-Chinese supplier for global EV and energy storage markets. The company will fund this pivot by leveraging cash flow from its existing coal tar derivatives and speciality carbon black businesses, which it plans to expand. This strategic move aligns with a broader industry trend of chemical companies enhancing value chains and reducing commodity dependence.