Agratas Energy Storage Solutions is planning to set up two battery gigafactories with an investment of over USD one billion in the first year in the United Kingdom (UK) and Gujarat, India.
Agratas Energy Storage Solutions, a wholly-owned subsidiary of Tata Sons, will receive sops from both the governments, and the company is likely to raise funds from London-based banks and its promoter Tata Sons.
In addition, the funds will be channelised optimally, even as the company would extend guaranteed sales to its anchor customers, Jaguar Land Rover (JLR) and Tata Motors.