Karnataka's Power Play: Lithium-ion Giga Factory to Light Up India's Battery Future

Karnataka's Minister for Large and Medium Industries announced the establishment of a 'Giga Factory Unit' in Bengaluru by the International Battery Company (IBC). The project involves a Rs 390 crore investment, generating 300 jobs, and exporting 20% of its lithium-ion battery production to US and EU markets.

The International Battery Company (IBC) is making significant strides by setting up a 'Giga Factory Unit' in Bengaluru within an estimated time frame of nine months, as per Karnataka's Industries Minister, M B Patil.

This ambitious project, involving an investment of Rs 390 crore, is expected to create 300 direct jobs and export 20% of its lithium-ion battery production to the US and EU markets, reflecting Karnataka's high-quality manufacturing standards.

In collaboration with Mahanagar Gas Ltd, the groundbreaking ceremony took place at the Karnataka Industrial Areas Development Board (KIADB) plot, emphasizing the project's alignment with Karnataka's vision of a sustainable, tech-driven economy and reducing import dependency on China.

(With inputs from agencies.)