Tata Group to Set Up Lithium Ion Battery Manufacturing Plant in Gujarat with Rs 13,000 Crore Investment
Tata Group, the Indian multinational conglomerate, has announced that it will establish a manufacturing plant in Gujarat to produce Lithium Ion batteries. The company will invest Rs 13,000 crore in this project. According to media reports, an MoU has been signed between the Gujarat government and Tata Group’s subsidiary Agartas Energy Storage Solutions. The manufacturing plant’s initial production capacity will be 20 GWh, and it will cater to the growing demand for lithium-ion batteries in India.
The company’s decision to set up this manufacturing plant aligns with the Indian government’s focus on electric vehicle adoption. The Chief Minister of Gujarat, Bhupendra Patel, expressed hope that this project would create an ecosystem for manufacturing lithium-ion batteries and generate significant employment opportunities in the state. He tweeted that an agreement had been reached between the Gujarat government and Tata Group to set up India’s first lithium-ion cell manufacturing giga factory in Gujarat.
Under the agreement, a 20 GW plant will be set up in the first phase, with Rs 3,000 crore investment. The CM said that the state government was committed to reducing carbon emissions by increasing electric vehicle production, which would drive up the demand for lithium-ion batteries.
English Summary:
Tata Group will invest Rs 13,000 crore to set up a manufacturing plant in Gujarat to produce Lithium Ion batteries. The company has signed an MoU with the Gujarat government, and the manufacturing plant’s initial production capacity will be 20 GWh. The Indian government’s focus on electric vehicle adoption has led Tata Group to establish this manufacturing plant. The Chief Minister of Gujarat expressed hope that the project would generate significant employment opportunities in the state and create an ecosystem for manufacturing lithium-ion batteries.
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