With the steady rise of electric vehicles, the need for reliable and high-performance batteries has never been more paramount. In a landmark deal poised to accelerate India’s transition to clean mobility, the Karnataka state government and International Battery Company (IBC), a major player in battery production, have inked an agreement.
This monumental agreement paves the way for a new lithium-ion battery manufacturing facility, located in the suburbs of Bengaluru. The deal includes a substantial investment of ₹8,000 crore by IBC, outlining the creation of a state-of-the-art gigafactory to produce lithium-ion batteries – the primary power source for electric vehicles.
Since June, the air has been ripe with anticipation as IBC hinted at its plans to establish a Karnataka-based facility. This facility would serve as a hub for manufacturing a myriad of goods related to electrification and decarbonisation technologies, expanding the state’s role in the global green revolution.
The considerable ₹8,000 crore investment equals around 1 billion US dollars, solidifying the enormity of the project. The new unit, second of its kind in Karnataka, is expected to sprawl across a 100-acre plot within the Information Technology Investment Region (ITIR) at Devanahalli, in the Bengaluru Rural district.
Once operational, the project will further solidify Karnataka as a front runner in the lithium-ion battery production landscape in India. The state’s Large and Medium Industries Minister, M B Patil, underscored this vision, foreseeing the state’s growing prominence in the sector.
IBC India Pvt Ltd President, Venkatesh Valluri, and Department of Commerce and Industries Principal Secretary, Dr Selvakumar, formalized this vision by signing the MoU. Notably, the battery manufacturer stressed the significance of recyclable batteries, adding that the substantial investment would cover land, the plant, machinery, and infrastructure. Additionally, the company plans to establish “dry rooms and clean rooms” for the manufacture of high-grade batteries.
This information was sourced from an article in Hindustan Times titled, “Karnataka govt & International Battery Company sign MoU to set up ₹8,000 crore recyclable Lithium-ion battery unit.”
Source: Hindustan Times