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JBM Ecolife gets $100 Million to Fuel Electric Bus Growth

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JBM Ecolife gets $100 Million to Fuel Electric Bus Growth New Delhi, India – JBM Ecolife Mobility, India’s leading electric bus manufacturer, has received funding of USD 100 million from Asian Development Bank and Asian Infrastructure Investment Bank. The funding will help the company in its expansion plans and will supply electric buses along with their operations under the Gross Cost Contract (GCC) model across multiple states in India. The company currently operates a huge fleet of around 1,200 electric buses in major cities such as Mumbai, Delhi, Ahmedabad, Surat, Bhubaneswar, Cuttack, and several others. Its impressive track record includes the deployment of more than 1,500 electric buses in 10 states and at over 15 major airports across the country. With an order book of over 6,500 electric buses, JBM Ecolife is better placed to grab the growing opportunity for sustainable transport solutions. The available manufacturing facility in the Delhi-NCR region for the company to produce 20,000 buses within one year secures the place of the company as one of the major participants in the electric bus market. This new funding will enable JBM Ecolife to accelerate work toward a reduction in carbon emissions and development of cleaner, greener cities across India. Electric buses are one of the company’s efforts to make transportation greener and more sustainable. JBM Ecolife Sets New Milestones in Electric Bus Adoption JBM Ecolife Mobility recently achieved a significant milestone in its electric buses journey, which included more than 150 million e-kilometers covered since the introduction way back in 2018. This milestone pushes the company closer to its ambitious goal of hitting the 1-billion e-kilometers mark. “We are grateful to ADB and AIIB for their continued support in advancing sustainable public transportation across India, … We have been pioneers in bringing electric mobility solutions in India and have consciously developed a complete EV ecosystem that accelerates the deployment of EVs across multiple geographies. Going ahead we continue to stand by our commitment towards playing a significant role in achieving India’s Net Zero 2070 target. Our electric buses will continue to lead India’s e-mobility momentum towards taking clean public mobility solutions to the grassroot level.” Nishant Arya, Vice Chairman & Managing Director, JBM Group Nishant Arya, Vice Chairman & Managing Director, JBM Group, expressed gratitude to the Asian Development Bank and Asian Infrastructure Investment Bank for continued support in achieving sustainable public transport in India. A pioneer in electric mobility, JBM provided a complete ecosystem to fast-track the deployment of EVs across several regions. The company remains committed to playing a crucial role in achieving the Net Zero 2070 target for India and continues its leadership in electric mobility solutions for clean public transportation. “By promoting e-mobility, ADB is helping communities reduce their carbon footprint, improve public transport, and build eco-friendly urban infrastructure, … ADB’s partnership with the JBM Group will help build clean, safe, and inclusive public transport in India.” ADB Director General for Private Sector Operations Department Suzanne Gaboury Suzanne Gaboury, Director General, Private Sector Operations Department, ADB stated that e-mobility will reduce carbon emissions, develop and enhance public transports, and shape green urban infrastructure. Such a partnership between ADB and JBM Group will further contribute to the development of clean, safe, and inclusive public transportations in India. “This association focusses at accelerating the adoption of clean energy public mobility solutions directed towards enhancing the quality of life in urban & semi urban cities. We aim to set a precedent for the future green infrastructure projects in India, this one being a transformative project that will drive sustainable and resilient development.” Najeeb Haider, Director General, Global Project and Corporate Finance at AIIB Join All India EV Community Click here for more such EV Updates

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Hindalco Drives EV Revolution with Copper Foil Production

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Hindalco Drives EV Revolution with Copper Foil Production Gandhinagar, India – September 18, 2024: Hindalco Industries, one of the world’s metals giants, is poised to take a lead role in India’s electric vehicle revolution. Copper foil produced at its plant under construction in Halol, Gujarat, will be used in lithium-ion batteries, an essential component. This has been announced by Hindalco’s CEO, Rohit Pathak in his recent interview on the sidelines of the RE-INVEST 2024. The company has made an announcement that the new facility it is going to build near Vadodara shall be operational in the next three years. The investment of the company is actually serving the strategic imperative to sustainable and innovative solutions. The application for EV batteries would call for excellent conductivity and thermal management properties of copper foil. Thus, by investing into it, Hindalco is strengthening the presence in a rapidly growing market and is also contributing to the objectives of India in green energy. Hindalco’s Ambitious Expansion: Fueling India’s EV Future “We’re planning to produce copper foils, aluminium foils, and specialty aluminium products for EV batteries. The technology used to make copper foils is very new. Currently, it is only available in Japan, Korea, and China. We will be the first to manufacture this in India, collaborating with technology partners” Rohit Pathak, CEO of Hindalco The company has already allocated a substantial sum of Rs 800 crore to establish a facility for manufacturing aluminum foils for batteries. This plant is currently under construction and is expected to play a crucial role in supporting the growing demand for EV batteries. Furthermore, Hindalco is constructing the country’s largest Copper Inner Groove Tube plant in Waghodia, Vadodara. This facility will produce a vital component used in electric motors, further strengthening Hindalco’s presence in the EV supply chain. “Copper foils for EV batteries is another important area. Currently, all of this is imported, but with the govt’s Production Linked Incentive (PLI) scheme, more battery cell manufacturing is taking place in India. We’re planning to produce copper foils, aluminium foils, and specialty aluminium products for EV batteries. The technology used to make copper foils is very new. Currently, it is only available in Japan, Korea, and China. We will be the first to manufacture this in India, collaborating with technology partners,” Rohit Pathak, CEO of Hindalco “This project will be commissioned by the end of this calendar year and will reduce the import dependence for this key component in air conditioners,” Rohit Pathak, CEO of Hindalco These strategic investments demonstrate Hindalco’s commitment to driving innovation and supporting India’s transition to electric mobility. By focusing on key components for EV batteries and motors, the company is well-positioned to capitalize on the burgeoning market and contribute to a greener future. Join All India EV Community Click here for more such EV Updates

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Bengaluru EV Revolution Gets a Charge with $2.65 Million

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Bengaluru EV Revolution Gets a Charge with $2.65 Million Bengaluru, India – The Climate Pledge, launched by Amazon and Global Optimism, opens a strategic investment in Bengaluru to accelerate the adoption of electric vehicles. The project, known as JOULE or Joint Operation Unifying Last-mile Electrification, will achieve US$ 2.65 million by 2030 to set up a network of shared electric vehicle charging stations, thereby supporting around 5,500 electric vehicles for this clean energy transition in Bengaluru. JOULE has some key supporters in Amazon, Mahindra Logistics, Uber, HCLTech, Greenko, and Deloitte. Moreover, Kazam is the Indian EV platform which will prepare the charging stations, while renewable energy provider Greenko will provide that power. This will be delivered in form of a throughput of 22,700 megawatt-hours of energy. The project will conserve 11.2 million liters of fuel while the carbon emissions will be reduced by 25,700 tonnes in 2030. This will prove to be instrumental in improving air quality in Bengaluru and reducing climate change. This investment in JOULE indicates that the commitment towards electric mobility in India is increasingly becoming a priority. However, as India continues to focus on sustainable transportation, this effort will be critical in undertaking the introduction of EVs and reducing fossil fuels. Bengaluru’s Electric Vehicle Infrastructure Gets a Boost The project, JOULE, aims to address the country’s current infrastructure deficit by expanding the network of EV charging stations. “Together with the Pledge signatories, we are proud to launch this joint action initiative, which will support India’s transition to electric vehicles, … This project not only addresses some of the current challenges in India’s charging infrastructure but also sets a new standard for corporate climate collaboration.” Sally Fouts, Global Leader of The Climate Pledge. This investment in JOULE indicates that the commitment towards electric mobility in India is increasingly becoming a priority. Moreover, as India continues to focus on sustainable transportation, this effort will be critical in undertaking the introduction of EVs and reducing fossil fuels. JOULE Project Boosts India’s Electric Vehicle Transition The project is expected to create 185 full-time jobs between 2024 and 2030, contributing to economic growth in the region. It also builds upon The Climate Pledge’s previous initiatives, such as the Laneshift program, which has been instrumental in promoting the adoption of zero-emission vehicles in major Indian cities. “This initiative not only improves the accessibility of EV infrastructure but also shows the strength of public-private partnerships in driving India’s transition to a more sustainable future,” Gunjan Krishna, Karnataka’s Industries Commissioner. “JOULE represents a crucial milestone in our shared mission to combat climate change and drive the transition to green mobility,” Paras Shah, COO and Co-Founder of Kazam. The JOULE project is a testament to the growing momentum behind electric vehicles in India. By expanding charging infrastructure and creating jobs, it is contributing to a more sustainable and environmentally friendly future. Join All India EV Community Click here for more such EV Updates

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Mercedes-Benz Drives EV Adoption in India

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Mercedes-Benz Drives EV Adoption in India New Delhi, India – Mercedes-Benz has experienced a significant increase in first-time electric vehicle (EV) buyers in India, leading to record sales during the first half of 2024. The luxury carmaker’s electric models have proven to be particularly appealing to Indian consumers seeking sustainable and technologically advanced vehicles. A variety of factors have contributed to this surge in demand for Mercedes-Benz EVs. The government’s push for electric mobility, coupled with advancements in EV technology and infrastructure, has made these vehicles more accessible and attractive to Indian buyers. Additionally, Mercedes-Benz’s reputation for luxury, innovation, and quality has played a significant role in driving sales. Mercedes-Benz Drives Luxury EV Market in India The German auto company posted an impressive sale of 9,300 units in the first half of the year. However, this is much more impressive than in other periods. Notably, electric models account for 5%, which is a doubling from last year’s figures at 2.5%. As more and more young professionals from doctors, lawyers, and architects ranks now start using electric vehicles to make a prima facie environmentalist statement or upgrade to sustainable mobility, Mercedes-Benz’s EQS 580 SUV, approximately at $168,200, has garnered rave reviews. Of these, nearly 15% are a first-time luxury car buyer, more than double from 5% till 2023. This is evident in the investment of the company with $24 million. It has mainly focused on local production and is therefore saving from hefty import duties to make its cars more affordable to Indian consumers. The strategic approach has enabled the brand to become a giant and sustain its leadership in the luxury car segment. Mercedes-Benz Fuels Indian Luxury EV Market, Shaping Global Trends The growing popularity of luxury electric vehicles (EVs) in India is not only driving domestic sales but also influencing global market strategies and investor sentiments. Mercedes-Benz’s success in the Indian market could spark similar investments and marketing approaches from other carmakers, intensifying competition and fostering innovation. While India’s EV market currently accounts for only about 2% of total car sales, its potential for growth is significant. The government’s ambitious target of reaching 30% EV penetration by 2030 could dramatically reshape the country’s automotive landscape. Local production by major players like Mercedes-Benz is a crucial step in reducing costs and increasing accessibility, addressing key challenges such as high prices and resale uncertainties. Join All India EV Community Click here for more such EV Updates

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Government Cracks Down on Battery Waste Pollution

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Government Cracks Down on Battery Waste Pollution The Indian government has imposed stern orders of environmental compensation upon offenders in case they violate the Battery Waste Management (BWM) Rules, 2022, designed to curb the increasing menace of battery waste pollution. According to guidelines issued by the Central Pollution Control Board (CPCB) on 10 September, heavy penalties are proposed against an individual or a firm if found violating the provisions. Under the new guidelines, violators could face a few lakhs to even crores of rupees, depending on the severity of the offense. Penalties are designed to be a deterrent and obtain compliance with the BWM Rules, whereby their aim is proper collection, storage, transportation, treatment, and disposal of waste batteries. Stricter Penalties for Battery Waste Rule Violators The Indian government has further tightened its grip on battery waste management by introducing penalties not only for non-compliance with regulations but also for failing to meet metal-wise extended producer responsibility (EPR) targets. Recognizing the varying recycling costs associated with different battery chemistries, the government has implemented a differentiated EPR credit cost system. This system assigns different costs based on the type of battery, with lead batteries having the lowest cost at Rs 18 per kg and lithium batteries facing the highest cost at Rs 2,400 per kg. This structured approach ensures that producers are held accountable for managing battery waste in proportion to the environmental impact and recycling complexity of their products. It incentivizes responsible waste management practices and discourages the use of batteries with higher environmental footprints. EPR targets are environmental regulations that mandate producers to take responsibility for the entire lifecycle of their products, including their disposal and recycling. By imposing penalties for non-compliance with these targets, the government aims to promote a circular economy and reduce the burden on the environment. Battery Manufacturers Face Stricter Penalties for Waste Non-Compliance As a measure of increasing environmental responsibility, it has incurred severe penalties for Indian battery manufacturers who are unable to meet the EPR targets. To back up this new law, manufacturers are required to collect or recycle a part of their lead or lithium batteries after use. In this case, the degree targets differ according to the type of material. In any failure case, they are required to pay an EC, or financial penalty, meant for promoting sound waste management and eco-friendly design. The task of the Central Pollution Control Board would be to formulate directions for the imposition and collection of EC from those who fail to comply with the order. It would ensure that the environmental impacts of battery products are borne by the manufacturing industries themselves. To promote compliance, the government has introduced graduated levels of penalties for defaults other than for deficiencies in EPR. A first default attracts an EC of Rs 20,000—equivalent to the application fee payable for registration under the Battery Waste Management Rules. Subsequent defaults are to be doubled; on the second default, an amount equivalent to Rs 40,000 is envisaged and an amount of Rs 80,000 on the third. Strict Penalties for Battery Waste Rule Violators The BWM Rules have stipulated that the entities that are contravened to the said Rules should make payment of environmental compensation (EC) and fine in a stipulated time frame. Payments delayed for more than three months will attract interest payable, with a minimum annual rate of 12 percent when such payments are made within one month from the date of due payment. Other government measures could include closing the unit, seizing trade documents, or filing a case under the EPA. The government has also made provision for a system of progressively graded punishments for late payments. This is a very strong disincentive to ensure that everybody is on time in their compliance with the BWM Rules. The MoEFCC has the records that indicate that the current registration under the CPCB is for 252 recyclers. These are the recyclers who currently have to take care of the battery wastes of India in a proper and efficient way. Join All India EV Community Click here for more such EV Updates

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Samvardhana Motherson Pours $15 Million into REE Automotive

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Samvardhana Motherson Pours $15 Million into REE Automotive Samvardhana Motherson International Ltd (SAMIL), a leading automotive components manufacturer, is set to invest up to USD 15 million in the innovative auto technology company, REE Automotive. This strategic investment will be made through SAMIL’s wholly owned subsidiary, MSSL Consolidated Inc. Samvardhana Motherson Invests $15 Million in REE Automotive Samvardhana Motherson International Ltd (SAMIL), a leading automotive components manufacturer, is set to invest up to USD 15 million in the innovative auto technology company, REE Automotive. This strategic investment will be made through SAMIL’s wholly owned subsidiary, MSSL Consolidated Inc. “SAMIL can leverage manufacturing capabilities for components and integration for ‘REEcorner’ module, and platform assembly to support full vehicle assembly, including assembly of P7 electric trucks in the USA. Reinforcing tier-0.5 status,” SAMIL’s exchange filings. Upon completion of the transaction, SAMIL will hold a significant stake in REE Automotive, acquiring 11% of diluted shares and 19% of non-diluted shares. This investment marks a significant step forward for SAMIL, as it gains access to REE’s cutting-edge technology and expertise in electric vehicle platforms. By leveraging its manufacturing capabilities, SAMIL can play a crucial role in supporting REE’s production of the ‘REEcorner’ module, a revolutionary electric vehicle platform. This collaboration also opens doors for SAMIL to participate in the assembly of full electric vehicles, including the P7 electric trucks, in the USA. This strategic move reinforces SAMIL’s position as a Tier-0.5 supplier, solidifying its presence in the global automotive landscape. Samvardhana Motherson’s Investment in REE Automotive: Key Details Samvardhana Motherson International Ltd (SAMIL) will finalize its investment in REE Automotive within the next 30 days. The transaction will be executed in cash, solidifying SAMIL’s strategic partnership with the innovative automotive technology company. REE Automotive, a publicly traded company listed on Nasdaq, specializes in designing, developing, and integrating critical vehicle components into a comprehensive modular platform tailored for commercial electric vehicles. These advanced platforms are ideally suited for mid and last-mile delivery operations, addressing the growing demand for sustainable transportation solutions. “SAMIL will also be entering into a supply chain management agreement with REE Automotive to accelerate its industrialisation in a mutually beneficial commercial construct,” SAMIL’s exchange filings. With headquarters in Israel and additional operations in Coventry, UK, and Austin, Texas, USA, REE Automotive maintains a global presence and is well-positioned to drive innovation in the electric vehicle industry. Samvardhana Motherson and REE Automotive Strengthen Partnership Samvardhana Motherson International Ltd (SAMIL) and REE Automotive have entered into a supply chain agreement that will leverage their combined strengths to enhance operational efficiency and accelerate electric vehicle adoption. The strategic partnership will involve sharing of efficiencies based on mutually agreed commercial constructs, capitalizing on SAMIL’s extensive global footprint and operations. This collaboration will streamline supply chain processes, reduce costs, and ensure a reliable and sustainable supply of components for REE’s electric vehicle platforms. REE Automotive has a robust order book of 600 trucks from leading OEMs, which are scheduled for delivery by 2025. This significant pipeline of orders underscores the growing demand for REE’s innovative electric vehicle solutions and positions the company for substantial growth in the coming years. Join All India EV Community Click here for more such EV Updates

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E-FILL Electric Boosts payments with UPI-Enabled EV Charging

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E-FILL Electric Boosts payments with UPI-Enabled EV Charging E-FILL Electric, a Delhi NCR-based startup focused on electric vehicle charging infrastructure, has introduced a groundbreaking feature that streamlines the charging process for EV owners. By integrating UPI payments, E-FILL Electric has eliminated the need for multiple charging apps or physical cards. To initiate a charging session, users simply scan a QR code at the charging station, enter the desired charging amount, and complete the transaction using their preferred UPI app. This seamless process eliminates the complexities of managing multiple app credentials and sharing personal information. EV Charging Made Easier with UPI Payments E-FILL Electric’s innovative solution can be implemented on both new and existing charging infrastructure, ensuring wide-scale accessibility. By simplifying the charging process, the company aims to make the transition to electric vehicles even more convenient and user-friendly, bringing it closer to the familiar experience of refueling at traditional fuel stations. “We are thrilled to introduce this revolutionary feature that simplifies the EV charging for everyone involved. The feature is now available in our AC & DC Fast chargers, and after this feature update, the QR Code will automatically appear on the charger screen once the gun is connected to the vehicle, … Our goal is to make electric vehicle adoption more accessible and enjoyable, and the UPI-enabled feature is a major step towards achieving that.” Mayank Jain, Founder & CEO at E-FILL Electric. E-FILL Electric Clarifies Pre-Payment Process for UPI-Enabled Charging Mayank Jain, Founder & CEO of E-FILL Electric, addressed the question of pre-payment amounts for their newly launched UPI-enabled charging feature. He explained that the charging station will display the pre-payment amounts prominently, similar to traditional petrol pumps. Additionally, this information will be reflected on the charger’s screen and within the E-FILL Electric app. This user-friendly approach offers several advantages for both EV owners and charge point operators. By eliminating the need for users to install multiple charging apps, operators can potentially attract a broader customer base, ultimately reducing operational costs. This seamless payment experience contributes to a more accessible and enjoyable EV charging experience. Join All India EV Community Click here for more such EV Updates

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Revolt Motors informs Plans for Overseas Electric Bike Sales

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Revolt Motors informs Plans for Overseas Electric Bike Sales Revolt Motors is poised to make a significant international stride by commencing exports of its electric motorcycles, beginning with Sri Lanka. The company has garnered substantial interest from neighboring countries such as Nepal, Bangladesh, and Brazil, as well as the vast African market. To capitalize on this growing demand, Revolt Motors has ambitious plans to establish a robust presence in Sri Lanka. Within the next four months, the company aims to open a network of 15 dealerships across the island nation. This strategic expansion will not only facilitate the sales of Revolt’s electric motorcycles but also pave the way for introducing additional models and further expanding its overseas footprint. With a production capacity of up to 162,000 electric motorcycles per year, Revolt Motors is well-equipped to meet the increasing global demand for sustainable and eco-friendly transportation solutions. As the company ventures into international markets, it is set to make a significant impact and contribute to the global shift towards electric mobility. Revolt Motors Expands Horizons: Electric Motorcycle Exports to Sri Lanka Anjali Rattan, the chairperson of RattanIndia Enterprises, has announced that Revolt Motors is poised to embark on a global journey by exporting its electric motorcycles. Sri Lanka will be the initial destination for these eco-friendly two-wheelers. “We are starting with Sri Lanka. As we expand our portfolio and have the right products as per customer needs in these countries, we will grow our footprint overseas,” Anjali Rattan, RattanIndia Enterprises Revolt currently offers two electric motorcycle models, the RV400 and RV400 BRZ. The company is scheduled to unveil a fresh addition to its product lineup on Tuesday, further bolstering its position in the electric mobility space. Revolt Motors Expands Global Footprint with Sri Lanka Launch Revolt Motors, a pioneering electric motorcycle manufacturer, is set to make its international debut in Sri Lanka. Originally co-founded by Rahul Sharma, the visionary behind Micromax, Revolt is now a wholly owned subsidiary of RattanIndia Enterprises, a diversified conglomerate with interests in ecommerce, fintech, and drone technology. To strengthen its presence in Sri Lanka, Revolt has entered into a strategic distribution partnership with Evolution Auto. This collaboration will pave the way for the establishment of 15 dealerships across the island nation within the next four months. Anjali Rattan, the chairperson of RattanIndia Enterprises, expressed confidence in Revolt’s ability to meet the growing demand for electric motorcycles in Sri Lanka and beyond. She emphasized the company’s robust production capacity, which currently stands at 162,000 units per year. To further drive growth and innovation, Revolt plans to invest in developing a diverse product portfolio and exploring advanced technologies. Join All India EV Community Click here for more such EV Updates

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Exide Commits INR 100 Crore to Lithium-Ion Battery Project

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Exide Commits INR 100 Crore to Lithium-Ion Battery Project Exide Industries Limited (EIL), a leading battery manufacturer, has further strengthened its commitment to electric vehicle (EV) technology by investing an additional INR 100 crore in its subsidiary, Exide Energy Solutions Limited (EESL). This strategic move brings EIL’s total investment in EESL to a substantial INR 2,752.24 crore. EESL, a key player in the EV battery space, has successfully allotted 2,77,77,777 equity shares to EIL at a premium of INR 26 per share, aggregating to a total investment of INR 99,99,99,972. This significant capital infusion underscores EIL’s unwavering confidence in EESL’s potential to drive growth and innovation in the burgeoning EV market. Exide Industries Reinforces Commitment to EESL with Strategic Investment Exide Industries Limited (EIL) has further solidified its commitment to Exide Energy Solutions Limited (EESL) through a strategic investment of INR 100 crore. Notably, this investment will not dilute EIL’s existing shareholding in EESL, ensuring its continued control over the subsidiary. The fresh capital infusion will be primarily utilized to fuel the development of EESL’s greenfield lithium-ion battery manufacturing plant in Bengaluru. This facility aims to cater to the growing demand for advanced battery solutions within the Indian electric vehicle market. Additionally, the investment will support EESL’s broader funding requirements, enabling it to accelerate its growth and expansion plans. Incorporated in March 2022, Exide Energy Solutions is dedicated to the manufacturing and selling of lithium-ion battery cells, modules, and packs. These innovative energy storage solutions are designed to power both electric vehicles and stationary applications, underscoring EESL’s commitment to providing comprehensive battery solutions to meet the evolving needs of the Indian market. Join All India EV Community Click here for more such EV Updates

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Epsilon Invests Rs 9,000 Crore in Karnataka Anode Facility

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Epsilon Invests Rs 9,000 Crore in Karnataka Anode Facility New Delhi, India – Epsilon Advanced Materials, a leading manufacturer of battery materials, has announced plans to establish a Rs 9,000 crore anode plant in Karnataka. The facility will have an annual production capacity of 90,000 tonnes and will be developed in two phases. The first phase will require an investment of Rs 4,000 crore, followed by an additional Rs 5,000 crore in the second phase, according to Epsilon Group Managing Director Vikram Handa. Epsilon Advanced Materials Targets for Expansion “So, we are looking to build a 30,000-tonne anode plant in India by Q4 2026, which will entail an investment of about Rs 4,000 crore. The plant will be scaled up to 90,000 tonne (capacity) by 2031. The total capex outlay is Rs 9,000 crore for our annual business in the next eight years,” Vikram Handa, Epsilon Group Managing Director As the demand for electric vehicles in India surges, domestic cell manufacturing companies are increasingly establishing battery plants within the country. The company is poised to play a pivotal role in this ecosystem by supplying sustainable and reliable anode and cathode materials. This positions Epsilon as a key player not only in the Indian market but also in the global supply chain for battery materials. The company plans to break ground on the new anode plant within the next six to eight months, with construction expected to take approximately a year and a half. This significant investment will contribute to India’s self-sufficiency in the EV supply chain and boost the country’s economic growth. Epsilon’s Rs 9,000 Crore Investment The company is also building a new project in Odisha and announced an investment of Rs 10,000 crore in phases. The first phase is under construction. “The idea is to have supply in the market by 2026-end or 2027 beginning, … There is a lot of stickiness of the customer with this product. Today, we need a customer, but once acquired they will remain with us for next seven to eight years because the cost to replace the battery material is too high,” Vikram Handa, Epsilon Group Managing Director Epsilon Carbon’s Odisha Venture Takes Shape The parent organization, Epsilon Carbon, specializes in producing specialty carbon and carbon black, key components used in tire manufacturing. Currently, the company employs approximately 1,100 individuals, both directly and indirectly, at its manufacturing facility located in Karnataka. “There is a lot of stickness of the customer with this product. Today, we need a customer, but once acquired they will remain with us for next seven to eight years because the cost to replace the battery material is too high, “ Vikram Handa, Epsilon Group Managing Director Moreover, Epsilon Carbon is actively expanding its operations with a new project underway in Odisha. This ambitious venture involves a significant investment of Rs 10,000 crore, which will be phased in over time. The initial phase of the project is currently under construction. Join All India EV Community Click here for more such EV Updates

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