Tata Group Signs MoU With Gujarat To Set Up Rs 13,000-Crore EV Battery Plant

Tata Group Signs MoU With Gujarat To Set Up Rs 13,000-Crore EV Battery Plant

The Gujarat authorities on Friday introduced that the Tata Group will arrange a lithium-ion cell manufacturing facility within the state by means of its subsidiary with an preliminary capability of 20 GWh at a price of Rs 13,000 crore. Within the presence of Chief Minister Bhupendra Patel, a Memorandum of Understanding (MoU) was signed between the Authorities of Gujarat and Agartas Vitality Storage Resolution, the Tata Group subsidiary.

The CM expressed hope that the manufacturing unit will generate large-scale employment.

In a tweet, he mentioned, “An MoU was signed right now between the state authorities and the Tata Group for organising the nation’s first lithium-ion cell manufacturing giga manufacturing unit in Gujarat. Below this MoU, which is a fruition of the state’s new electronics coverage, within the first section Rs. A 20 GW plant can be arrange with an funding of Rs 13,000 crore, which can generate large-scale employment.

“Because the state authorities commits to a imaginative and prescient to scale back carbon emissions by rising the manufacturing of electrical autos, reliance on lithium-ion batteries may even improve considerably as EV utilization will increase. This venture will assist in establishing a lithium-ion cell manufacturing ecosystem within the state, Gujarat Chief Minister added. 

The manufacturing facility is anticipated to fulfill the nation’s rising demand for lithium-ion batteries. The announcement comes because the state authorities is making a major push for electrical mobility beneath the brand new Electronics Coverage (2022-28). 

Additionally Learn: Insufficient Charging Infra To Excessive Upfront Car Value: Why EVs Are Longing For A Smoother Experience In India

In line with a report by the information company Reuters, the choice to arrange the EV battery plant at Sanand, Gujarat, was taken earlier this week at a Tata Sons board assembly. 

The report citing sources near the event mentioned that Tata Motors already operates a plant in Sanand and has acquired the adjoining Ford Motors plant. The mixing of the 2 factories has begun, and it might take as much as a 12 months to finish.

Work on the plant is anticipated to start out in lower than three years, the report added.

In line with a NITI Aayog and Rocky Mountain Institute report, India’s EV battery market might surpass $15 billion by 2030, reported Bussines At this time. Each world gamers like Foxconn and home corporations like Amara Raja are coming into this market, boosting India’s EV business. 


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