The International Battery Company (IBC), a global player in lithium-ion batteries, will commence production at its Giga Factory Unit in Bengaluru in nine months, Minister for Large and Medium Industries M.B. Patil has said.
According to the Minister, the project, touted to be the country’s first, will come up at an outlay of ₹390 crore and is expected to generate 300 direct jobs. A groundbreaking ceremony for the factory, to be established in collaboration with Mahanagar Gas Ltd. at the Karnataka Industrial Areas Development Board (KIADB) plot in the Information Technology Investment Region (ITIR), was held here on Wednesday.
“The unit aims to export 20% of its production to the U.S. and EU markets, reflecting the global demand for Karnataka’s high-quality manufacturing capabilities,” he said.
Currently, IBC produces lithium-ion cells at its 35,000-sq. ft facility in South Korea, which are then brought to India to make the finished product. The first phase of investment at the KIADB ITIR unit will facilitate the first-ever local manufacture of lithium-ion cells in the country. These cells will be used to produce battery packs designed for small mobility solutions, including two-wheelers and three-wheelers. The company plans to subsequently expand its focus to larger mobility applications, Mr. Patil said.
“IBC’s focus on lithium-ion battery production is critical to India’s transition to renewable energy. It will enhance energy storage capabilities, contribute to a sustainable future, and integrate advanced engineering with clean energy solutions. The venture will also boost Karnataka’s economy and reduce dependency on imports from China,” Mr. Patil added.
Published - January 15, 2025 10:02 pm IST
