Tatas sign Rs 13,000-cr EV battery plant deal
Ahmedabad, June 2
Tata Group signed an outline deal on Friday for building a lithium-ion cell factory, based on investment of about Rs 13,000 crore ($1.58 billion), as part of the nation’s efforts to create its own electric vehicle supply chain.
To set up lithium-ion cell factory in Gujarat
- A joint statement on the MoU between Tatas’ Agratas Energy Storage Solutions and the Gujarat Government said work on the plant, to be based in Sanand, Gujarat, was expected to start in less than three years
- It would have initial manufacturing capacity of 20 Gigawatt hours (GWh), which could be doubled in a second phase of expansion
Compared to the size of its population, India’s car market is tiny. Tata Motors dominates its electric vehicle (EV) sales, which made up just 1% of India’s total car sales of about 3.8 million last year.
A joint statement on the memorandum of understanding, between Tata’s unit Agratas Energy Storage Solutions and the Gujarat Government, said work on the plant, to be based in Sanand, northern Gujarat, was expected to start in less than three years.
It would have initial manufacturing capacity of 20 Gigawatt hours (GWh), which could be doubled in a second phase of expansion, the statement said.
“The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India,” Vijay Nehra, an official in the Gujarat government said. Reuters
