Salt-to-software conglomerate Tata Group has signed an agreement with the Gujarat government to establish a giga-factory for manufacturing of lithium-ion cells, with an initial investment estimated at approximately 13,000 crore. According to a state government document posted on its website, Tata Agaratas Energy Storage Solutions Pvt., a subsidiary of Tata Group, signed a memorandum of understanding on Friday to establish an electric-vehicle battery plant with a production capacity of 20 gigawatt hours, creating direct and indirect employment for more than 13,000 people.
In past also, Tata Group has been investing heavily in the electric vehicle (EV) market. In 2018, Tata Group launched The Tata Tigor EV for the commercial market. The Tigor EV can be charged up to 80% in 90 minutes and has a range of up to 142 km on a single charge.
The Nexon EV, Tata Motors’ first EV for the personal market, was introduced in 2019. The Nexon EV can be charged up to 80% in 60 minutes and has a range of up to 312 km on a single charge. The Tata Group subsidiary Tata Power also participates in the EV industry.
According to the state government, the Tata facility will establish Gujarat as a global leader in the production of lithium batteries, and the company would receive support in establishing a production eco-system in the region. A spokesman of the Tata Group declined to comment.
By 2070, Prime Minister Narendra Modi wants India to become a carbon net zero country. Electric vehicles, or EVs are more efficient and environmentally friendlier than conventional gasoline-powered automobiles. Rising fuel prices is also the main reason to switch to electric vehicles.
India is expanding the use of EVs nationwide in an effort to become an EV-efficient nation. Although the demand for these vehicles is now being driven by the two- and three-wheeler segments, automakers are already either introducing models or announcing plans to do so in the near future.
For More News Read @Bharat18
