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Gujarat govt inks MoU for Rs 4,930 cr worth lithium battery plant

Tuesday, 15 Oct 2019
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The government of Gujarat has inked a memorandum of understanding (MoU) with the Japanese company Automotive Electronics Power (AEPPL) for setting up Rs 4,930 crore lithium battery plant in the state.

The proposed plant will come up in Becharaji in Mehsana district. AEPPL is a joint venture (JV) between motor production companies Maruti Suzuki Corporation, Toshiba Corporation and Denso Corporation. The proposed plant will be functional by 2020 and is expected to provide jobs to around 1,000 people.

AEPPL will make investments in two phases. In Phase-I, the construction of manufacturing facilities for lithium battery packs and modules will be set up by the end of 2020 with an investment of Rs 1,250 crore.

As per the MoU, AEPPL will invest Rs 3,715 crore in Phase-II for distribution and produce 30 million units per year by 2025. In the long term, the company intends to invest Rs 53,000 crore in its futuristic six-battery plants and two electrode plants by 2030.

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