International Battery Company (IBC), a TUS-based firm, has announced its plan to establish a lithium-ion gigafactory in Karnataka with a budget of ₹390 crore.
The facility is located in the KIADB ITIR industrial area in Devanahalli.
The plant is expected to begin operations within nine months, marking a significant step for IBC’s growth in India.
Partnership and Local Production
In collaboration with Mahanagar Gas, IBC will set up the first-ever battery cell manufacturing facility in India.
Currently, the company produces battery cells in South Korea and imports them to India for battery assembly.
The new plant will enable local production of cells, reducing India’s dependency on imports from China and strengthening the country’s self-sufficiency in battery manufacturing.
Strategic Location and Expansion
The Karnataka government allocated ten acres of land for the facility, which will sit near the Foxconn production unit.
The strategic location will allow IBC to tap into the growing demand for electric vehicle batteries.
The gigafactory will primarily focus on producing batteries for two-wheelers, three-wheelers, and other electric vehicles. It will cater to both domestic and international markets.
Boost to Karnataka’s Economy
The manufacturing facility will export 20 percent of its battery production to the United States and European countries.
Additionally, it will boost the state’s economy and reduce our reliance on imports from China.
Strengthening India’s Clean Energy Goals
IBC’s gigafactory plans to export twenty percent of its production to the U.S. and Europe. This will bolster Karnataka’s position as a hub for advanced manufacturing.
As reported by projectstoday.com, the initiative will contribute to India’s clean energy objectives. It will also pave the way for sustainable growth in the electric vehicle industry.
