International Battery Company (IBC), a US-based cell manufacturer is considering setting up a proprietary Lithium Nickle Manganese Cobalt prismatic cell manufacturing industry in Karnataka by investing ₹8,000 crore.
The company plans to set up a non-captive giga factory, involving an investment across land, plant, machinery and building. The representatives of the company met with Karnataka Minister of Large, Medium Industries & Infrastructure Development, MB Patil.
Patil said, “Given the scope for growth of the electric vehicle sector in the country, there is a need to scale up the lithium cell battery production. The company has asked the government to provide 100 acres of land at ITIR in Devanahalli. The decision on providing land and extending incentives will be taken after discussing with Chief Minister Siddaramaiah.”
IBC Co-founder Priyadarshi Panda and Sasi Kuppannagari of IBC virtually attended the meeting. S Selvakumar, Principal Secretary, Department of Industries, and Gunjan Krishna, Commissioner, Department of Commerce and Industries were among those present at the meeting.
Venkatesh Valluri, President, IBC India Pvt. Ltd said that India will need lithium cell batteries in the range of about 150 gigawatts of capacity by 2030. “Currently, there is a production of lithium cells totalling around 1.5 gigawatts capacity in the country and there is a huge gap between the demand and the supply. If the proposed plant is set up the State will get about ₹12,300 crore in the form of taxes in the next 20 years,” he said.