Tata Group signs $1.6 billion deal with Gujarat government to set up EV battery plant
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The statement said that the initial manufacturing capacity of the plant would be 20 Gigawatt hours (GWh), which could further be doubled in a second phase of expansion.
India's Tata Group on Friday signed a strategy deal to build a lithium-ion cell factory, based on an investment of approximately 130 billion rupees ($1.58 billion), as per Reuters reports.
This move is in line with the country's efforts on creating its own electric vehicle supply chain.
The car market in India is very small if compared to the size of the country's population. Tata Motors overpowers its electric vehicle (EV) sales, which made up just 1% of India's total car sales of about 3.8 million last year.
As per a joint statement on the memorandum of understanding between Tata's unit Agratas Energy Storage Solutions and the government of the western state of Gujarat, the work on the plant, which is to be built in Sanand, northern Gujarat, was expected to start in less than three years.
The statement said that the initial manufacturing capacity of the plant would be 20 Gigawatt hours (GWh), which could further be doubled in a second phase of expansion.
"The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India," Reuters quoted Vijay Nehra, an official in the Gujarat state government, as saying.
Jaguar Land Rover owner to pick UK for its new electric car battery plant
In a move that could revolutionize the country's electric vehicle industry, Tata Motors, the Indian owner of Jaguar Land Rover, is on the verge of selecting Britain for its multi-billion-pound electric car battery plant.
The decision, according to BBC reports, is expected to be finalized during an upcoming visit by Tata's CEO to London.
The proposed plant could bring an impressive 9,000 jobs to Somerset, a picturesque county in southwest England.
This proposed investment is a significant boost to the British car industry and a major win for Prime Minister Rishi Sunak, who has been pressured to attract car manufacturers to the country.
UK's finance minister, Jeremy Hunt, had recently alluded to a significant development in Britain's electric vehicle battery-making capacity, and Tata Motors' choice of Britain over Spain is set to fulfil that promise.
On being asked about Britain's EV battery-making capacity at an event, he said, "watch this space".
(With inputs from agencies)
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