Epsilon Group has signed a Memorandum of Understanding (MoU) with the Government of Karnataka (GoK) to invest Rs. 15,350 crores in developing state-of-the-art manufacturing and research facility for EV battery testing & advanced materials. This strategic investment, planned over the next 10 years, will bolster India’s electric vehicle (EV) ecosystem, creating thousands of jobs, and strengthen India’s position as a hub for advanced battery technology.
As part of the MoU, Epsilon Group, along with its subsidiaries Epsilon Advanced Materials and Epsilon CAM Pvt. Ltd. will manufacture sustainable and high-performance Graphite Anode and Lithium Iron Phosphate (LFP) Cathode battery materials while Inspire Energy Research Center Pvt. Ltd. will focus on R&D, testing & training for EV battery materials and battery manufacturers. The plan includes an investment of Rs. 9,000 crores to set up a Graphite Anode manufacturing plant, Rs. 6,000 crores for a LFP Cathode manufacturing plant, and Rs. 350 crores for battery materials and battery testing R&D and training center.
This initiative supports Karnataka’s ambition to become India’s energy transition hub, making the state a key destination for battery materials production. Epsilon Group will cater to Indian battery manufacturers, enabling them to access locally produced, high-performance materials to enhance supply chain resilience and support India’s growing EV market. The state government will facilitate necessary approvals, incentives, and infrastructure support for Epsilon Group’s projects, in line with its policies to promote industrial development.
Epsilon Group’s Rs. 15,350 crore investment in Karnataka is a crucial step toward reducing India’s reliance on Chinese imports and building a localized, self-sufficient battery material ecosystem. By establishing state-of-the-art Graphite Anode and LFP Cathode manufacturing plants, alongside an advanced R&D and testing center, Epsilon is ensuring that India develops indigenous capabilities in battery technology. This investment will secure a sustainable supply of critical battery materials for domestic and international EV manufacturers, strengthen India’s position as a global battery hub, reducing import dependency and enhancing energy security to support the Atmanirbhar Bharat & Viksit Bharat vision, fostering innovation and local employment with over 2,000 direct jobs and attract global OEMs & battery manufacturers looking for reliable, non-China-dependent supply chains.
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