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EV sector of Gujrat will receive Rs 13,000cr investment from Tata Group

A MOU was signed between a Tata Group subsidiary, Tata Agratas, and the Gujarati government to establish a gigafactory for the manufacture of lithium-ion batteries.
PrashantPrashant11-Oct-23 3:42 PM
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EV sector of Gujrat will receive Rs 13,000cr investment from Tata Group

In connection with the Vibrant Gujarat Global Summit 2024, Gujarat Chief Minister Bhupendra Patel visited

Tata

Sons Pvt. Ltd. and Godrej Industries on Wednesday in Mumbai.


Patel learned that the Tata Group, with its involvement in the power, vehicle, chemical, and information technology (IT) industries, is one of the top investors in Gujarat during his meeting with Tata Sons Chairman Natarajan Chandrasekaran.


According to Chandrasekaran, the Tata Group has signed a Memorandum of Understanding (MoU) to invest Rs 13,000 crore in the construction of an

EV

battery facility in Sanand. A memorandum of understanding was signed between a Tata Group subsidiary, Tata Agratas Energy Storage Solutions Pvt. Ltd., and the Gujarati government to establish a gigafactory for the manufacture of lithium-ion batteries.


The Chief Minister expressed satisfaction with the Tata Group's significant investments in the green and renewable energy industries. One of the top businesses in the solar energy industry is Tata Power, to whom the Chief Minister indicated his willingness to provide funding in the subsequent stage of the Solar Production Linked Incentive (PLI) Scheme under a number of different categories.


Rakesh Swamy, group chairman and director of corporate affairs for Godrej Industries, and Patel also had a meeting. By 2025, Godrej Industries would spend a further Rs 300 crore in its Dahej-based business, Swamy informed the Chief Minister.


According to him, the business intends to make more investments to boost its position in the hydrogen and power sectors in order to supply sophisticated and substantial equipment.


The Chief Minister informed Swamy that Gujarat state is the ideal location for his enterprise.


Major investors in Gujarat include the Tata Group and Godrej Industries, and their sustained support will strengthen the state's economy and increase employment opportunities.


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