Tata Group to set up ₹13,000 crore lithium-ion battery giga factory in Gujarat
Tata Group to invest ₹13,000 crore in setting up a lithium-ion cell manufacturing factory in Gujarat. The plant will have an initial capacity of 20 GWh.
India's leading conglomerate, Tata Group on Friday announced its plan to set up a lithium-ion cell manufacturing giga factory in Gujarat. In the initial stage of the project, the Ratan Tata-backed group will infuse ₹13,000 crore. The development is part of the country's commitment to create its own electric vehicle supply chain.
A Memorandum of Understanding (MoU) has been inked between Tata Group-backed subsidiary Agratas Energy Storage Solution and Gujarat Government on June 2nd.
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Vijay Nehra, an official in the Gujarat state government told Reuters, "The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India."
The work will be on the plan situated in northern Gujarat's Sanand region. In the first phase, the plant will have an initial manufacturing capacity of 20 Gigawatt hours (GWh).
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The manufacturing capacity is expected to double in the second phase.
Overall, the project is expected to start in less than three years.
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Business NewsCompaniesNewsTata Group to set up ₹13,000 crore lithium-ion battery giga factory in Gujarat
First Published:2 Jun 2023, 09:58 PM IST
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