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EV battery firm Epsilon to invest $1.8b in India’s Karnataka
The Epsilon Group will invest 15,350 crore rupees (approximately US$1.8 billion) to create a manufacturing and research facility for electric vehicle (EV) battery testing and materials in Karnataka, India.
Over the next 10 years, the investment will fund the development of facilities to produce graphite anode and lithium iron phosphate (LFP) cathode materials through Epsilon subsidiaries.
Of this funding, 9,000 crore rupees (US$1.035 billion) will be allocated for a graphite anode manufacturing plant.
Meanwhile, 6,000 crore rupees (US$690 million) will be designated for an LFP cathode facility, and 350 crore rupees (US$40.25 million) will be for a research and development (R&D) and training center.
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