Allox to set up an active battery material manufacturing unit in Telangana

18 Jan 2023 , 01:16 PM

Allox Advance Materials Pvt Ltd signed an agreement with the Telangana government on Tuesday to establish a C-LFP (Lithium Iron Phosphate) active battery material production unit in Telangana with an Rs210 crore initial investment.

According to an official release, the MoU was signed on the sidelines of the World Economic Forum 2023 in Davos.

The state-of-the-art facility for manufacturing C-LFP will cost Rs210 crore with an initial capacity of 3GWH/PA, which will be expanded to 10GWH with a total investment of Rs750 crore by 2030. According to the proposal, the proposed facility will employ 600 highly skilled and semi-skilled professionals.

Telangana was one of the first states to develop a comprehensive EV & ESS Policy in 2020, with the goal of creating an integrated EV ecosystem.

The MoU was signed and exchanged following a meeting between the two parties at the ongoing World Economic Forum in Davos, according to the statement.

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