Epsilon Advanced Materials is planning to set up a Rs 9,000-crore anode plant in Karnataka with an annual production capacity of 90,000 tonne, a top official of the company said.

The investment in the plant would be made in two phases. In the first phase, Rs 4,000 crore would be invested and the remaining Rs 5,000 crore would be pumped in the second phase, Epsilon Group Managing Director Vikram Handa said.

"So, we are looking to build a 30,000-tonne anode plant in India by Q4 2026, which will entail an investment of about Rs 4,000 crore. The plant will be scaled up to 90,000 tonne (capacity) by 2031. The total capex outlay is Rs 9,000 crore for our annual business in the next eight years," Handa explained.

With increasing demand of electric vehicles in India, there is a need for Indian cell manufacturing companies to set up battery plants in the country.

Epsilon products will act as a sustainable and reliable supplier of anode and cathode material to these cell companies.

This way, Epsilon is playing a key role in the raw material processing ecosystem within the country and even for global demand.