Tata Group to invest Rs 13,000 crore in EV battery plant in Gujarat

Gandhinagar : Gujarat Chief Minister Bhupendra Patel visited Tata Sons Pvt. Ltd. and Godrej Industries in Mumbai on Wednesday in the context of Vibrant Gujarat Global Summit 2024.

Tata Group to invest Rs 13,000 crore in EV battery plant

During his meeting with Tata Sons chairman Natarajan Chandrasekaran, Patel was informed that the Tata Group is one of the largest investors in Gujarat with its presence in power, automobile, chemical and information technology (IT) business.

Chandrasekaran said that the Tata Group has signed a Memorandum of Understanding (MoU) to build an electric vehicle (EV) battery plant in Sanand at an expense of Rs 13,000 crore. Tata Agratas Energy Storage Solutions Pvt. Ltd., a subsidiary of Tata Group, has signed the MoU with the Government of Gujarat to set up a Giga-factory for the production of Lithium-ion cells.

The Chief Minister expressed happiness over the fact that the Tata Group is making huge investments in the renewable energy and green energy sector. Tata Power is one of the leading companies in the solar energy sector, to which the Chief Minister showed readiness to allocate funds under various categories in the second phase of the Solar Production Linked Incentive (PLI) Scheme.

Godrej to invest Rs 300 crore in Dahej unit

Patel also held a meeting with Rakesh Swamy, group chairman and head of corporate affairs, Godrej Industries. Swamy informed the Chief Minister that Godrej Industries will invest an additional Rs 300 crore in its Dahej-based unit by the year 2025.

He said that the company is planning to make future investments to strengthen its presence in the hydrogen and power sectors for the delivery of specialized and large equipment.

The Chief Minister told Swamy that Gujarat state is the best destination for his project.

Both the Tata Group and Godrej Industries are major investors in Gujarat, and their continued investments in the state will boost the state's economy and create jobs.