Hyderabad: GODI India Private Limited has announced that it will set up a 12.5 GWh Lithium and Sodium ion, related technologies R&D, and giga-scale cell manufacturing facility with an investment outlay of Rs 8,000 crore investment over five years in Telangana.
The investment will potentially create over 6,000 new jobs in the next 5 years, a press release said.
A Memorandum of Understanding (MoU) was signed at the World Economic Forum in Davos after a meeting between Telangana chief minister A Revanth Reddy and Mahesh Godi, Founder & CEO, GODI India Private Limited.
The project aims to have a 2.5 Gwh cell assembly line in Phase 1, with planned expansion to 10 Gwh in the second phase.
Setup in 2020, GODI has swiftly emerged as a key player in the energy storage domain. In a short duration, GODI achieved milestones such as developing a Li-ion pouch and cylindrical prototype cells in its Li-ion pilot production line. GODI has future innovations in the pipeline, including sodium-ion and solid-state battery technologies, and establishing a cutting-edge cell manufacturing facility, catering to sectors such as defense and aerospace, solar and wind, telecommunications, electric vehicles, and electronics, the press release further said.
The chief minister welcomed the investment and said that the new state government is working towards promoting the adoption of electric vehicles and establishing a comprehensive EV and ESS ecosystem in the state.
He further added that the proposed project is aligned with the state’s vision of promoting the adoption of electric vehicles and GODI will be a key player in Telangana’s ESS ecosystem.
Mahesh GODI, thanked the Government of Telangana for their support and cooperation and said that he is confident GODI will play a key role in enabling and creating an ecosystem of EV and Energy Storage companies in Telangana.
“There is a groundswell of positivity and confidence in the business propensity and growth of Telangana under the leadership of chief minister Revanth Reddy,” he said.
Minister for Industries and ITE&C D Sridhar Babu, Principal Secretary ITE&C, I&C Jayesh Ranjan IAS, and Special Secretary, Investment Promotion, Vishnu Vardhan Reddy were also present during the meeting.
