New Delhi: Tata Group has signed an MoU with the Gujarat government to establish a large factory to manufacture lithium-ion cells for electric vehicles. The estimated initial investment of this project would be around Rs 13,000 crore.
Tata Agaratas Energy Storage Solutions Pvt., a subsidiary of Tata Group is taking up this project. It signed the MoU on Friday to establish an electric-vehicle battery plant that will have a production capacity of 20-gigawatt hours. This project will provide direct and indirect employment to more than 13,000 people, according to the information posted by the Gujarat government on its website.
The Tata plant would make Gujarat a leader in lithium-battery manufacturing. Tata Group’s decision comes at a time when its unit Jaguar Land Rover is considering setting up a major EV battery plant in Britain.