Tata Group inks deal to set up Rs 130 billion lithium-ion cell factory in Gujarat's Sanand
Sanand (Gujarat): Tata Group on Friday entered into a preliminary agreement for the construction of a lithium-ion cell factory at an estimated investment of around Rs 130 billion, reported Reuters.
The Indian government has been making efforts to set up a domestic electric vehicle supply chain.
According to a joint statement regarding the memorandum of understanding between Agratas Energy Storage Solutions, a unit of Tata Group, and the government of Gujarat, the construction of the lithium-ion cell factory in Sanand, northern Gujarat, is anticipated to commence within a timeframe of less than three years, Reuters reported.
As per the statement, the initial phase of the lithium-ion cell factory in Sanand, Gujarat, is expected to have a manufacturing capacity of 20 Gigawatt hours (GWh).
There is a possibility of doubling this capacity during a second phase of expansion.
"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 state government told Reuters.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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