Epsilon plans to invest Rs 15,350 cr for EV battery facility in Karnataka

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Epsilon plans to invest Rs 15,350 cr for EV battery facility in Karnataka - Business Standard

Quick Summary:

As part of the MoU, Epsilon Group, along with its subsidiaries Epsilon Advanced Materials and Epsilon CAM Pvt Ltd will manufacture sustainable and high-performance Graphite Anode and Lithium Iron Phosphate (LFP) Cathode battery materials while Inspire Energy Research Center Pvt Ltd will focus on R&D, testing and training for EV battery materials and battery manufacturers.

Epsilon Group on Wednesday announced its plan to invest Rs 15,350 crore in developing a manufacturing and research facility for EV battery testing and advanced materials in Karnataka.

This strategic investment, planned over the next 10 years, will bolster India's Electric Vehicle (EV) ecosystem, creating thousands of jobs, and strengthen India's position as a hub for advanced battery technology, it said.