A Memorandum of Understanding (MoU) with the Government of Karnataka (GoK) has been signed to this effect at the Invest Karnataka Summit in Bengaluru, Epsilon said. 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, it said. 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 and training for EV battery materials and battery manufacturers. This initiative supports Karnataka's ambition to become India's energy transition hub, making the state a key destination for battery materials production, Epsilon said. 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. He further said that the group is committed to creating jobs, fostering technology innovation, and promoting sustainable manufacturing to drive economic growth within the state to strengthen the vision of Viksit Bharat. To meet the rising demand for EVs in India, Epsilon Group will act as a sustainable and reliable manufacturer of Graphite Anode and LFP Cathode materials, reducing dependence on imports and supporting Indian cell manufacturers in achieving higher Domestic Value Addition (DVA), the company said. Epsilon can deliver 100 per cent DVA for anode materials, while cathode materials achieve 60per cent DVA, significantly enhancing local value creation and supply chain localisation. The company said its investment is a crucial step toward reducing India's reliance on Chinese imports and building a localised, self-sufficient battery material ecosystem. By establishing 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, it added. It also said the 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, reduce import dependency and enhance energy security to support the Atmanirbhar Bharat & Viksit Bharat vision.Image Source: ET Auto