Published On:February 8 2024
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"GFCL EV Announces ₹6,000 Crore Investment Plan Over 4-5 Years"

"GFCL EV Announces ₹6,000 Crore Investment Plan Over 4-5 Years"

GFCL EV Products Ltd (GFCL EV), a subsidiary of Gujarat Fluorochemicals Ltd (GFL), has unveiled plans for a substantial investment of ₹6,000 crore over the next four to five years. This investment initiative, part of which is earmarked for development in Dahej, South Gujarat, aims to bolster the supply of electric vehicle (EV) and Energy Storage System (ESS) battery solutions, projected to yield approximately 200 GWh annually.

According to an official release, a portion of the proposed ₹6,000-crore investment has already been deployed, with ₹650 crore infused into the venture by December 31, 2023. Vivek Jain, Chairman of INOXGFL Group, expressed confidence in GFL's forward-looking investment strategy, emphasizing their role in shaping the EV and ESS battery industry's future. Jain highlighted the group's commitment to innovation and environmental sustainability, underscoring their ambition to pioneer advancements in the electric mobility sector and energy transition.

GFCL EV's current product lineup encompasses a diverse range of offerings, including electrolyte salts, additives, cathode active materials, and specialized binders for EV batteries, along with NaPF6 for sodium ion batteries. Noteworthy milestones include the commencement of commercial production for the LiPF6 project and the imminent operationalization of the LFP project by Q3 of CY24, positioning GFCL EV as a comprehensive provider of EV battery solutions.

This strategic endeavor not only addresses challenges such as the high cost of EV batteries but also reduces import dependence on critical battery raw materials, reinforcing GFL's pivotal role in India's electric mobility revolution and energy transition, as stated in the release.


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