Epsilon Group has committed a whopping ₹15,350 crore toward the integration of the electric vehicle (EV) battery testing, advanced materials, manufacturing, and research facilities in Karnataka. This was combined with Epsilon’s signing of a contract with MoU along with the Government of Karnataka (GoK) at a political/economical summit.
Investment Details and Timeline
The investment will be rolled out in phases over the next 10 years, positioning India as a significant hub for advanced battery technologies. They intend to construct the following:
- Invest ₹9,000 crore in the graphite anode manufacturing plant installation.
- Allocate ₹6,000 crore for the establishment of a lithium iron phosphate (LFP) cathode manufacturing plant.
- Spend ₹350 crore on the setup of a battery materials, testing, R&D, and training center.
Focus on Sustainability and Innovation
With the MoU, Epsilon Group, its subsidiaries, Epsilon Advanced Materials, and Epsilon Cam Private Limited will give priority to the development of environmentally friendly, high-performance graphite anode and LFP cathode battery products. These activities are envisioned to be important in terms of reinforcing the domestic supply chain of EV battery materials, which will, in turn, support not only local markets but also international ones.
Strategic Importance for India’s Battery Industry
Vikram Handa, Managing Director of Epsilon Group, stated that this investment is India's strategic move to cut the inevitability of dependence on Chinese battery imports and to establish a circular battery materials ecosystem as well. Their initiative, anticipated influence: EVs manufacturers and component suppliers, etc., will be increased, making India one of the leading countries in battery technologies at the world level.
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