Epsilon Group has signed a memorandum of understanding (MoU) with the Karnataka government to invest Rs 15,350 crore over the next decade in building an advanced manufacturing and research facility for EV battery materials. 

The investment will enhance India’s electric vehicle sector by manufacturing high-performance battery components and advancing research in sustainable energy solutions.

This initiative is expected to create numerous jobs and bolster India’s position in battery technology. 

Epsilon Advanced Materials and Epsilon CAM will manufacture Graphite Anode and Lithium Iron Phosphate (LFP) Cathode materials, while Inspire Energy Research Center will focus on R&D, testing, and training in battery development.

The Rs 15,350-crore investment is allocated as - Rs 9,000 crore for a Graphite Anode plant, Rs 6,000 crore for an LFP Cathode plant, and Rs 350 crore for battery research and testing facilities. 

Karnataka’s government will support the project with approvals, incentives, and infrastructure to promote industrial growth. This aligns with the state’s vision to become a key player in India’s energy transition and to reduce dependence on battery material imports.

Epsilon Group aims to ensure high Domestic Value Addition (DVA), achieving up to 100 percent for anode materials and 60 percent for cathode materials. 

The company’s efforts contribute to India’s goal of self-reliance in EV battery production while promoting a sustainable and resilient supply chain.