Exide Industries will invest ₹6000 crores to build a Lithium-ion cell manufacturing Giga factory in Karnataka, said to be one of the largest Gigafactories in the country.
The Karnataka State Department of Industry and Commerce (KSDIC)announced an investment of 60 billion (Rs. 6000 cr) by Exide Industries to set up an advanced cell chemistry technology gigafactory in the state. According to the department, it will be one of the largest Gigafactory in the country. For this, land has been sought in Haraluru Industrial Area near Bangalore Airport.
“Exide Industries MD & CEO, Subir Chakraborty, met with Chief Minister (Basavaraj Bommai) this morning for Rs 6,000 crore investment in a Lithium-Ion cell manufacturing Giga factory,” Department for Industries and Commerce said in a statement.
The project is expected to generate 1,200 -1,400 employment opportunities, further added.