Tesla Group, SRAM & MRAM partner to set up BESS giga factories in India

Battery energy storage systems maker Tesla Group a. s. and SRAM & MRAM Group, a global leader in technology and sustainable development, have inked a USD 1 billion agreement to set up electric vehicle battery facilities in India and other countries, according to a company official.

As per the agreement, a total of five EV battery factories, also called gigafactories, will be set up in India and 15 other countries such as the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, Sailesh L Hiranandani, Chairman of SRAM & MRAM Group, said in a statement.