Tata Group to Establish INR 13,000 crore lithium-ion cell unit in Gujarat

Rutuja Kedare Jun 03, 2023 0

Tata Group, one of India’s largest conglomerates, has announced its plans to establish a lithium-ion cell manufacturing giga factory in Gujarat. On Friday, June 2, the subsidiary Agratas Energy Storage Solution signed a Memorandum of Understanding (MoU) with the Government of Gujarat to solidify this commitment. 

According to an official statement from the Gujarat government, the project’s first phase will involve an initial investment of INR 13,000 crores (USD 1.8 billion) and a substantial capacity of 20 gigawatts (GW) of lithium-ion batteries. This initiative will not only contribute significantly to the development of the electric vehicle (EV) industry but also create employment opportunities for over 13,000 individuals. 

The establishment of this factory aligns with Prime Minister Narendra Modi’s goal of achieving 100 percent EV adoption and reducing carbon emissions by 50 percent by 2030, ultimately working towards net-zero carbon emissions.

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Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.

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