US-based battery firm C4V to invest Rs 4,000 Cr in Karnataka

US-based C4V is a leading company in the lithium-ion cell manufacturing sector. It will invest over Rs 4,000 crore in the electric battery manufacturing sector in Karnataka. Industries Minister Jagadish Shettar announced the update in a press statement. The company and the state representatives signed an agreement in Bengaluru, he further added. Company CEO Shailesh Upreti, V-P Kuldeep Gupta and a senior management team of Darryl Wood, Natasha Chernova, and Tony Gonzalez were present during the signing. Further, Karnataka Additional Chief Secretary Rajkumar Khatri, Industries Commissioner Gunjan Krishna and others signed the papers.

Shettar said that C4V is a leading company with over a hundred patents and lithium battery cell manufacturing and technology. “The company's investment of Rs 4,015 crore in the state will create more than 4,000 jobs,” he said. The company will set up a 5 Gigawatt hours (GWh ) plant in the state and will begin work next year.

“We have pioneered the future of green with the recent changes in the latest Electronic System Design and Manufacturing Policy (ESDM) policy and the Electric Vehicle Policy in the state. The cell manufacturing sector will play an important role in reducing environmental pollution,” the minister further added.

He added that the cooperation required by this sector is already being provided by the state government. “The more a major company invests in the state, the more companies will be able to invest in the state. At this juncture, our government has promised to provide all the kind of cooperation needed for the establishment of industries in the state,” Shettar said.

What is a Lithium-ion cell battery?

A lithium-ion battery or Li-ion battery is a type of rechargeable battery commonly used for portable electronics and electric vehicles.