Epsilon first Indian firm to invest $650 mn on EV battery parts plant in US
With India entering the United States-led Minerals Security Partnership (MSP), Mumbai-headquartered Epsilon Advanced Materials (EAM) has become the first India company to set up a battery material unit in the US.
The announcement comes days after Prime Minister Narendra Modi’s three-day state visit to the US. The battery materials company is planning to invest $650 million to set up the synthetic graphite anode manufacturing facility. The unit is expected to be commissioned by 2026.
The proposed plant, with a targeted annual capacity of 50,000 tonnes, will use cutting-edge green technologies to produce high-capacity anode materials and provide critical battery materials to power more than one million EVs.
