Tata to set up a mega EV battery plant in Gujarat, deal signedtext_fields
New Delhi: Tata group will invest a whopping₹ 13,000 crore in Gujarat to set up a factory for manufacturing lithium-ion cells.
Tata Agaratas Energy Storage Solutions Pvt., a subsidiary of Tata Group, has inked a deal with the Gujarat government on Friday, according to Bloomberg.
The memorandum of understanding seeks to set up a plant for electric-vehicles with a production capacity of 20 gigawatt hours.
The ambitious project will create direct and indirect employment for more than 13,000 people, according to the report.
The largest of its kind project in India is announced along the lines of PM Modi’s vision to make India’s carbon net zero by 2070.
Despite being one of the world’s largest automobile makers, India still lags behind China and the US in terms adopting electronic transport.
Tata’s mega project will turn Gujarat into a leader in lithium-battery manufacturing at a time when electric vehicles have begun gaining market, challenging regular vehicles.
Tata Group’s Jaguar Land Rover is planning to set up a major EV battery plant in the Britain.
The Indian conglomerate has chosen England over Spain after UK government’s offer of a support package, according to a previous report by Bloomberg.