According to a press release by the state government, the plant will be India's first lithium-ion cell manufacturing facility with an initial investment of $1.6 billion. The plant will have an initial capacity of 20 gigawatt-hours and is expected to create more than 13,000 jobs.
The agreement was made with the aim of increasing the state's production of electric vehicles to reduce carbon emissions. This agreement is expected to help the state achieve its goals of switching to 100% electric vehicle use and reducing carbon emissions by 50% by 2030. However, it is not yet clear when the plant will be built.
India aims to be net zero by 2070, with an ambitious target for electric vehicles to account for 30 per cent of all new car sales by 2030. However, the country remains heavily dependent on battery imports from China, Japan and South Korea for electric vehicle production.
The country is trying to increase its battery material testing and production capacity. For example, local battery materials manufacturer Epsilon Advanced Materials (EAMPL) recently signed an agreement with Japanese research company KRI Inc to set up a 100 GWh battery materials testing facility in India.
Tata Motors, part of the Indian conglomerate and owner of British carmaker Jaguar Land Rover, is expected to announce a gigafactory investment in Europe soon.
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