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A total of Rs 13,000 crores would be invested in the project in its first phase. With a projected 20 GW capacity, the facility will play a crucial role in meeting India’s rising lithium-ion battery demand.
The Tata Group, one of the largest businesses in India, has plans to construct a massive lithium-ion battery manufacturing facility in Gujarat. On Friday, June 2, the subsidiary Agratas Energy Storage Solution signed an MoU with the Gujarati government to formally make this commitment.
The Gujarati government stated in a formal announcement that the project will require an initial investment of Rs 13,000 crores (equivalent to USD 1.8 billion) in its first phase. It is projected that the plant will have a sizable capacity of 20 gigawatts (GW), which would greatly aid India in meeting its increasing demand for lithium-ion batteries.
By constructing this manufacturing facility, the Tata Group hopes to assist the country in making the switch to renewable energy and electric vehicles. The facility will significantly develop the EV industry in addition to giving about 13,000 people the opportunity for direct and indirect employment.
This action is consistent with Prime Minister Narendra Modi’s intention to reduce carbon emissions by 50% and use only electric vehicles in order to achieve net-zero emissions by the year 2030.
