Battery Firm Plans $1 Billion Lithium-Ion Plant in India
Lithium-ion battery cells.
Photographer: Tomohiro Ohsumi/Bloomberg
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International Battery Company has committed to investing $1 billion in India’s southern Karnataka state to build a factory that will produce lithium-ion cells, the provincial government said Tuesday.
The privately owned company, which is making some initial batches of its prismatic or rectangular cells in South Korea, will acquire 100 acres of land close to the technology hub of Bangalore to build its plant.