IT minister of Telangana, KTR and Allox representatives.
Hyderabad: Allox Advance Materials Private Limited will be setting up India’s first multi-gigawatt C- LFP (Cathode-Lithium Iron Phosphate) active battery material production unit in Telangana.
The company has signed a memorandum of understanding (MoU) with the Telangana government on the sidelines of the World Economic Forum 2023 in Davos.
The manufacturing unit of Lithium Iron Phosphate (C-LFP) will be set up with an investment of Rs 210 crore and will have an initial capacity of 3GWH per annum.
The unit can be expanded to a capacity of 10GWH with a total investment outlay of Rs 750 crores by 2030.
The proposed facility will create employment for 600 highly skilled and semi-skilled professionals.
Allox’s technology to produce C-LFP is a solid-state process, economical to scale up, zero effluent discharge, eco-friendly and indigenously developed by ARCI, Government of India and upscaled by Allox in Hyderabad.
It has been showcased by the Union government at the Indian Sustainability Pavilion at World Economic Forum 2023 in Davos.
IT and industries minister KT Rama Rao said that Telangana was one of the first States to come up with a comprehensive EV & ESS Policy in 2020 with a view to building an integrated EV ecosystem.
The mister while embracing the facility, remarked that the state government was actively working on promoting the adoption of Electric Vehicles (EVs) for developing a comprehensive manufacturing ecosystem.
“The state is emerging as the most preferred destination for EV and Advanced Chemistry Cell Manufacturing. The proposed facility by Allox is expected to contribute to the State’s goal of promoting the adoption of electric vehicles,” KTR added.
Allox co-founder and managing director Mourya Sunkavalli and chief operating officer Kiriti Varma stated that Allox would play an important role in the EV and emerging Energy Storage Systems landscape of the country while supplying active cathode materials to the cell manufacturing companies in India.
This post was last modified on January 17, 2023 5:21 pm