The Government of Karnataka and US-based International Battery Company (IBC) signed a memorandum of understanding (MoU) on Tuesday to set up a recyclable lithium-ion battery manufacturing unit with an investment outlay of ₹8,000 crore in the State.
Large and Medium Industries Minister M.B. Patil said the company would set up the battery unit on a patch of 100-acres of land in Bengaluru Rural District. “After the realisation of the project, the State would have its second lithium-ion battery manufacturing facility paving the way for becoming the front runner as a Li-ion battery manufacturing State in the country,” the Minister said.
According to Priyadarshi Panda, Founder and CEO, IBC, a pilot plant in Korea is on the verge of completion and the first set of test batteries is ready to be tested by the potential customers of the company. The visiting IBC team explained the importance of recyclable batteries and emphasised the need for setting up dry rooms and clean rooms for high-quality production of batteries.
The MoU was signed by IBC India president Venkatesh Valluri and principal secretary Selvakumar.
