IBC plans Rs 80 bn investment for Bengaluru Lithium plant

22 Jun 2023 CW Team

The representatives of the battery maker informed that they had met with MB Patil, the Minister of Large and Medium Industries, in Bengaluru. They stated that they had formally requested a plot of land. Due to the potential for growth in the electric vehicle sector, it was necessary to expand lithium cell battery production. The company had asked the government to provide 100 acre of land at the Information Technology Investment Region (ITIR) in Devanahalli, located on the outskirts of Bengaluru. Patil added that the final decision regarding the provision of land and incentives would be made after discussing with Chief Minister Siddaramaiah.

The company is contemplating establishing a non-captive gigafactory in the state for manufacturing Lithium Nickel Manganese Cobalt prismatic cells. This venture would require a significant investment of around Rs 80 billion, covering expenses for land, plant and machinery, and building, as stated by the company.

Venkatesh Valluri, the president of IBC India, expressed that India would require lithium cell batteries with a capacity of approximately 150 gigawatts by 2030. He further added that if the proposed plant were to be established, the state would receive approximately Rs 123 billion in tax revenue over the next 20 years.

Currently, the country's lithium cell production capacity stands at around 1.5 gigawatts, resulting in a substantial gap between demand and supply.

Also read:
Anil Agarwal: Vedanta to invest $1.7B in FY24 for growth projects
Report: PE/VC Investment in India Declines 44% to $3.5 bn

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..