Big boost for electric vehicles as three Lithium-ion companies could set up plants in Telangana soon

It takes typically 9 months to 15 months to come up to the production stage. The combined capacity would approximate 10 gigawatts, Director of Electronics, Telangana, Sujai Karampuri, told reporters.

By: | Published: July 17, 2019 3:38 PM
lithium ion electric vehicle battery manufacturer Image for representational purpose only (Photo: Reuters)

As part of NITI Aayog's EV push in the country, three different electric vehicle battery (Li-ion) manufacturers with a combined capacity of 10 gigawatt are expected to set up their facilities in Telangana soon with an investment of Rs 1500 crore in the first phase. Director of Electronics, Telangana, Sujai Karampuri, withholding the names of the companies, said the construction of three different facilities is expected to begin in a month or two and production of the cells would begin between nine to 15 months after that.

He also indicated that the initial production capacity would be ramped up from one gigawatt in phase one to 10 gigawatt in the due course with a total investment of Rs 6000 crore.

"Right now they are in the pipeline. We will disclose the names in a matter of a month or so. All the three companies put together, it is over Rs 1500 crore investment. The construction would probably start in a month or so.

It takes typically 9 months to 15 months to come up to the production stage. The combined capacity would approximate 10 gigawatts," he told reporters on Wednesday.

"First they'll start with one gigawatt in the first phase, then they go up to 5 gigawatts. There will be investing Rs 1500 crore in the first phase. But it would translate approximately Rs 6000 crore, total put together for all three phases," he said on the sidelines of 'Electric vehicle Summit-2019.'

Good news for electric vehicles in India: Govt invites proposals for EV charging Infra

The Telangana government had recently informed the NITI Aayog that it was capable of setting up a Giga-Scale Li-ion Battery Manufacturing Plant as envisioned by the Centre. Karampuri said the state government is developing a 200-acre park for EVs, which can further be developed to 800 acres in future.

Telangana Principal Secretary for IT and Industries Jayesh Ranjan said, the state government is implementing various measures and incentives for electric vehicles and related ecosystem under the State's EV Policy, though officially not launched.

Do you know What is Automated Manual Transmission (AMT), Electronic Brakeforce Distribution (EBD), Anti-Lock Braking System, Power Steering? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Get the latest cars price and upcoming bikes price in India exclusively at Financial Express. Stay tuned for new cars and bikes reviews, follow us on twitter, Facebook and subscribe us on YouTube for latest auto news.

Next Stories
1Massive discounts of upto Rs 5.63 lakh on BMW Motorrad bikes including F850GS
2Suzuki Access 125 SE launched at Rs 61,788 with new colour option
3Triumph motorcycles going at a huge discount in India: Here is the catch