US li-ion battery firm to invest Rs 4,000 crore in Karnataka
C4V investment will create 4,000 jobs in Karnataka: Industries Minister Shettar
BENGALURU:
US-based C4V, a global leader in lithium-ion technology, plans to invest Rs 4,015 crore to manufacture li-ion batteries in Karnataka, Industries Minister Jagadish Shettar told mediapersons on Thursday.
A lithium-ion battery is a type of rechargeable battery commonly used for portable electronics and electric vehicles.
Speaking after an agreement with representatives of the company in Bengaluru, Shettar said C4V has over a hundred patents in its field. The company will set up a 5 Giga Watt hours (GWh) plant in the state by next year. Its investment will create more than 4,000 jobs in Karnataka, he said.
‘Karnataka leads in green tech’
“We have pioneered the future of green tech with the latest Electronic System Design and Manufacturing (ESDM) policy and the Electric Vehicle policy. The cell manufacturing sector will play an important role in reducing environmental pollution,” the Minister said.
Signed an MoU with C4V company for an investment worth
— Jagadish Shettar (@JagadishShettar) July 1, 2021
Rs.4000 crores.
C4V is one of the world's leading producer of Lithium – Ion cells.
The proposed investment will create more than 4000 jobs in the state.#IndusrialPolicy2020to25 | #BeyondBengaluruInitiative pic.twitter.com/Aa8oaxK3pI
Raj Kumar Khatri, ACS-Department of Industry and Commerce, Gunjan Krishna, Commissioner of Industrial Development, Shailesh Uprati, CEO of C4V, Vice-President Kuldeep Gupta, the MD of Karnataka Udyog Mitra and the COO of Invest Karnataka Forum BK Shivakumar were present on the occasion.
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