New Delhi
C4V, a leading
manufacturer of lithium-ion cells, will be investing Rs 40 billion in Karnataka
in the electric battery manufacturing sector. An agreement was signed between
the state and the battery firm where the representatives of both sides were
present. The company will be setting up a 5-Gigawatt hours (GWh) plant in the
state of Karnataka. The work for this manufacturing plant will begin sometime
next year. The investment by C4V is expected to create more than 4000 jobs in
the country, said Jagadish Shettar, Minister for Karnataka Medium and Large
Industries, in a statement.
The Minister
said that the state is focusing on a green future. The latest Electronic System
Design and Manufacturing Policy (ESDM) policy and Electric Vehicle Policy were
drafted with that in mind. Similarly, the cell manufacturing sector will play
an important role in reducing the environmental pollution. He added that the
state government of Karnataka was already providing all the cooperation
required by the sector.
A lithium-ion
battery or Li-ion battery is a type of rechargeable battery commonly used for
portable electronics and electric vehicles. C4V is a leading battery manufacturer with
over a hundred patents and lithium battery cell manufacturing and technology.
Source – ET Auto
Image Source: C4V Website
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