GODI India to invest Rs 8,000 cr in TS for setting up Lithium Giga Factory
The 12.5-GWh cell manufacturing facility will create over 6,000 new jobs in the State over next 5 years
Hyderabad: Telangana Chief Minister of Telangana A Revanth Reddy along with Mahesh Godi, Founder & CEO, GODI India Private Limited, announced the setting up of a 12.5-GWh Lithium & Sodium Ion and related technologies R&D and Giga scale cell manufacturing facility in the State with an investment outlay of Rs 8,000 crore over a period of five years.
A Memorandum of Understanding was signed between State government and GODI India on Wednesday at the World Economic Forum (WEF) in Davos. The proposed project has employment generation potential of 6,000 in phase-1. The project aims to have a 2.5 Gwh cell assembly line in phase-1, with planned expansion up to 10 Gwh in phase-2.
Set up in 2020, GODI has swiftly emerged as a key player in the energy storage domain. In a short duration, GODI has achieved milestones such as developing Li-ion pouch and cylindrical prototype cells in its Li-ion pilot production line. It 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 & wind, telecommunications, electric vehicles (EVs) and electronics.
On the occasion, CM Revanth Reddy welcomed the investment and said that the new government is working towards promoting the adoption of EVs and establishing a comprehensive EV & Energy Storage System (ESS) ecosystem in the State.
He further added that the proposed project is aligned with the State’s vision of promoting adoption of EVs and GODI will be a key player in Telangana’s ESS ecosystem.
Mahesh GODI thanked the State government for its support and co-operation and said that he is confident GODI will play a key role in enabling and creating an ecosystem of EV & ESS companies in Telangana.
“There is a ground swell of positivity and confidence in the business propensity and growth of Telangana after Congress government under leadership of CM Revanth Reddy took charge,” he said.
Minister for Industries, ITE&C D Sridhar Babu, Principal Secretary ITE&C, I&C Jayesh Ranjan and Special Secretary - Investment Promotion Vishnu Vardhan Reddy were also present during the meeting.
