GODI India Private Ltd has signed a memorandum of understanding with the state of Telangana to set up a 12.5GWh battery manufacturing plant with an investment of Rs 8,000 crore ($960 million).
The agreement was signed at the World Economic Forum in Davos by Telangana Chief Minister Shri A. Revanth Reddy and GODI India Founder and CEO Mahesh Godi.
The company plans to build a research and development and giga-scale battery manufacturing facility for lithium and sodium-ion and related technologies within five years, starting with a 2.5GWh battery assembly line and expanding by 10GWh in the second phase.
Welcoming the investment, Revanth Reddy said the project proposed by GODI is in line with the state's vision of promoting electric vehicles and building a comprehensive ecosystem for electric vehicles.
Mahesh Godi said he believes the company will play a key role in establishing an ecosystem for electric vehicle and energy storage companies in Telangana.
GODI has become a key player in the energy storage sector, developing lithium-ion pouch and cylindrical prototype cells on its lithium-ion pilot production line.
The company is also pursuing future innovations, including sodium-ion and solid-state battery technologies, and has established a cutting-edge battery manufacturing facility to meet the needs of sectors such as defense and aerospace, solar and wind energy, telecommunications, electric vehicles and electronics.
What’s next for India’s battery manufacturing sector in 2024? After years of laying the policy and regulatory foundations for establishing a domestic battery manufacturing base, India may finally witness several gigafactories entering the first phase of commercial operations in 2024.
(Source: GODI Global Energy Storage Network, Global Lithium Battery Network, New Energy Network Comprehensive)
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