Tata Group signs Rs 13,000-crore EV battery plant deal with Gujarat
The Tata group signed an outline deal with the Gujarat government on Friday on building a lithium-ion cell factory with an investment of about Rs 13,000 crore ($1.6 billion). The move comes as India is looking to create its own electric vehicle (EV) supply chain.
According to sources close to the development, the decision to set up the EV battery plant at Sanand, Gujarat, was taken earlier this week at a Tata Sons board meeting.
Tata Motors already has a plant operational at Sanand, and has also acquired the adjoining Ford Motors’ plant. The process of integration of the two plants has begun and may take up to one year to complete.
