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

The Karnataka government and US-based International Battery Corporation (IBC) on Tuesday signed a memorandum of understanding (MoU) to set up a recyclable lithium-ion battery manufacturing plant in the state at a cost of Rs 8,000 crore ($1 billion).

The MoU was signed and exchanged by Venkatesh Valluri, President, IBC India, and Dr. Selvakumar, Principal Secretary, Ministry of Commerce and Industry, in the presence of Large and Medium Industries Minister MB Patil.

Addressing the meeting, Patil said the company will set up the unit on a 100-acre land in rural Bengaluru.

“Once the project is realized, the state will have its second lithium-ion battery manufacturing plant, paving the way to become the leading lithium-ion battery manufacturing state in the country,” he noted.

IBC founder and CEO Dr. Priyadarshi Panda said the pilot factory in South Korea is nearing completion and the first set of test cells is ready for testing by the company’s potential customers.

The IBC team explained the importance of recyclable batteries and emphasized the need to set up “dry rooms and clean rooms” to produce batteries with high quality.

Sasi Kuppannagari, co-founder and chief operating officer of IBC, and Gunjan Krishna, commissioner of the Ministry of Commerce and Industry were present.


Samsung unveiled the Galaxy Z Fold 5 and Galaxy Z Flip 5, along with 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 gadgets and more on the latest episode of the Orbital Gadgets 360 podcast.tracks are available for Spotify, Ghana, Giosavin, 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 Twitter, Facebookand google news.For the latest videos on gadgets and tech, subscribe to our YouTube channel.

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

Svlook

Leave a Reply

Your email address will not be published. Required fields are marked *