International Battery Company (IBC), a prominent US-based firm, has announced the establishment of a Rs 390-crore lithium-ion gigafactory in Karnataka. The state continues to solidify its reputation as a hub for advanced manufacturing, with this latest investment marking a significant milestone in India’s journey toward clean energy and self-reliance.
India’s First Dedicated Battery Cell Manufacturing Facility
Located in the KIADB ITIR industrial area in Devanahalli, the facility will be India’s first dedicated battery cell manufacturing plant in collaboration with Mahanagar Gas. Slated to commence operations within nine months, the gigafactory will create 300 direct jobs and reduce India’s dependence on imported battery cells, currently sourced by IBC from South Korea.
The new facility will focus on producing lithium-ion batteries for electric two-wheelers, three-wheelers, and other vehicles, addressing surging demand in domestic and international markets. Additionally, 20% of the production will be exported to the U.S. and Europe, cementing India’s role as a global player in the battery manufacturing sector.
Boosting Local Economy and Energy Independence
The Karnataka government has allocated 10 acres near Foxconn’s manufacturing hub for the gigafactory, showcasing the state’s commitment to attracting cutting-edge industries. This initiative aligns with India’s broader energy goals, supporting sustainable manufacturing and promoting energy independence. The facility’s local production capabilities are expected to play a crucial role in meeting the growing demand for eco-friendly transportation solutions as electric vehicle adoption accelerates nationwide.
A Game-Changer for Karnataka’s Industrial Landscape
As Karnataka continues to attract high-impact investments, this gigafactory underscores its status as a key player in the global shift toward clean energy. By fostering local production and exports, the initiative contributes to the state’s economic growth while bolstering India’s ambitions for a greener future.
The IBC gigafactory stands as a testament to India’s commitment to sustainable development, offering long-term benefits for the local economy and reinforcing its position in the global clean energy landscape.