The company has invested Rs 8,000 Crore to set-up this mega battery production facility and an MoU has already been signed with the state government
In an effort to grow the electric vehicle industry in Karnataka in India, global battery making giant International Battery Company (IBC) and the state government have signed a contract to set-up a massive lithium-ion battery making unit.
According to a report of PTI, the company has invested Rs 8,000 Crore to set-up this mega battery production facility and an MoU has already been signed with the state government. The company had previously mentioned in June that it is gearing to begin a factory in Karnataka where various decarbonisation and electrification related products, equipment and parts will be produced.
The venture is approx 1 billion US dollars. In the Bengaluru’s rural district in Devanahalli, the unit will start its operations on a 100 acre land. According to reports, this is a second such production unit in the state. Large and Medium Industries Minister M B Patil told media, "After the realization of the project, the state would have its second Lithium-ion battery manufacturing facility paving the way for becoming the front runner as a Li-ion battery manufacturing state in the country."
The PTI report also added that the agreement has been signed by the IBC India Pvt Ltd President Venkatesh Valluri and Department of Commerce and Industries Principal Secretary Dr Selvakumar. IBC India has also stressed on the fact that manufacturing recyclable batteries are now an urgent need of the hour for a pollution free environment and EV’s growth will increase in the country in the coming few years.
The official statement of the company further stated that the investment will cover building, plant, land, and machinery. Apart from that, the company will also establish clean and dry rooms for manufacturing advanced top-notch batteries. The point to be noted is that lithium batteries are still widely used in electric cars.
