First LIB Gigafactory For Electric Vehicles

India Will Have Its first LIB Gigafactory For Electric Vehicles. Bharat Heavy Electricals Limited (BHEL) and LIBCOIN to form a major association to build the “India’s first Lithium-ion Battery Gigafactory,” announced recently by India’s Ministry of Heavy Industries and Public Enterprises.

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First LIB Gigafactory Inspired By Tesla Company

Many companies got Inspired by the Tesla company who produced first battery gigafactory in which they are able to produce battery cells at the gigawatt-hour level and announced the same ambition. Now India into the same plan is going to get one as a consortium of companies.

Magnis Energy Technologies Ltd To Finalize Deal For LIB Gigafactory

To build India’s first Lithium-ion Battery Gigafactory, Magnis Energy Technologies Limited with state-owned Bharat Heavy Electricals Limited and LIBCOIN announced that it will finalize a deal with Government of India, Ministry of Heavy Industries and Public Enterprises.

LIBCOIN Chairman Rajan Duggal Says:

Bharat Heavy Electricals Limited and LIBCOIN is partly owned by Magnis. LIBCOIN Chairman Rajan Duggal said, “Our plan is to be the largest Lithium-ion Battery manufacturer in India, and we aim to be the first mover in one of the world’s largest markets. The interest this project is generating especially in the Indian automobile sector is very exciting.”
They are planning for a factory that can produce up to 30 GWh per year which is comparable to Tesla and Panasonic are making in one year at Gigafactory.

Magnis Chairman Frank Poullas Commented:

“To have The Central Government of India endorse this project is very encouraging for both Magnis and its partners. We see India as one of the largest markets in the world for Lithium-ion batteries and to potentially build one of the world’s largest Lithium-ion battery Gigafactories with a partner who possesses the skill and expertise of BHEL is exciting for the company,” said Magnis Chairman Frank Poullas.

Project’s Goal To Replace High CAPEX and OPEX Processes.

As per press release of 18th January by Ministry of Heavy Industries and Public Enterprises, “a holistic view of the supply chain in combination with cutting edge digital technologies.” These project’s goal is to replace high CAPEX and high OPEX processes.

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