IBC to set up Lithium cell plant in Karnataka by investing Rs 8,000 cr
Representatives of the US-based International Battery Company (IBC), which is considering setting up a Lithium Nickle Manganese Cobalt prismatic cell manufacturing industry in Karnataka by investing Rs 8,000 crore, met Large and Medium Industries Minister M.B. Patil on Monday.
At the meeting convened at the KUM conference hall in Khanija Bhavana, IBC officials briefed the minister about the specifics of the company and discussed the steps forward.
IBC plans to set up a non-captive gigafactory, involving a substantial investment of approximately Rs 8,000 crore. The investment is across land, plant, machinery and building.
