International Battery Company to commence production at its 'Giga Factory Unit' in Bengaluru in 9 months
Lithium-ion batteries manufacturer the International Battery Company (IBC) is set to commence production at its 'Giga Factory Unit' in Bengaluru within nine months, Karnataka's Minister for Large and Medium Industries, M B Patil said on Wednesday. The project, with an investment of Rs 390 crore, is expected to generate 300 direct employment opportunities, he said.
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The groundbreaking ceremony for the unit, to be established in collaboration with Mahanagar Gas Ltd at the Karnataka Industrial Areas Development Board (KIADB) plot in the Information Technology Investment Region (ITIR), was performed by the Minister, his office said in a release.
Speaking at the event, Minister Patil highlighted that the unit aims to export 20 per cent of its production to the US and EU markets, reflecting the global demand for Karnataka's high-quality manufacturing capabilities.
Currently, IBC produces lithium-ion cells at its 35,000-square-foot facility in South Korea, which are then brought to India to make the finished product.
The first phase of investment at the KIADB ITIR unit will facilitate the first-ever local manufacture of lithium-ion cells in the country. These cells will be used to produce battery packs designed for small mobility solutions, including two-wheelers and
