Karnataka Government Signs MoU With IBC to Set Up Rs. 8,000 Crore Recyclable Lithium-Ion Battery Plant

Share

The Karnataka government and US-based International Battery Company (IBC) on Tuesday signed a memorandum of understanding (MoU) to set up a recyclable Lithium-ion battery manufacturing unit at an outlay of Rs 8,000 crores (USD 1 BN) in the state.

IBC India, President Venkatesh Valluri, and Principal Secretary for Department of Commerce and Industries Dr. Selvakumar signed and exchanged the MoU in the presence of Large and Medium Industries Minister M B Patil.

Speaking on the occasion, Patil said the company will establish the unit on a 100-acre parcel of land in the Bengaluru Rural district.

“After the realisation of the project the state would have its second Lithium-ion battery manufacturing facility paving the way for becoming the front runner as a Li-ion battery manufacturing state in the country,” he noted.

Dr. Priyadarshi Panda, Founder and CEO, IBC stated that the pilot plant in Korea is on the verge of completion and the first set of test batteries was ready to be tested by the potential customers of the company.

The IBC team explained the importance of recyclable batteries and emphasised the need for setting up “dry rooms and clean rooms” for high-quality production of batteries.

Sasi Kuppannagari, Co-Founder and COO, of IBC, and Commissioner for Department of Commerce & Industries Gunjan Krishna were present. 


Samsung launched the Galaxy Z Fold 5 and Galaxy Z Flip 5 alongside the Galaxy Tab S9 series and Galaxy Watch 6 series at its first Galaxy Unpacked event in South Korea. We discuss the company’s new devices and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated – see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.


Amazon Great Freedom Festival Sale 2023 Begins: Here’s How to Get Prime Membership