International Battery Company (IBC) has announced plans to establish a lithium-ion gigafactory in Karnataka with an initial investment of Rs 390 crore.

The facility is expected to generate 300 direct jobs and is slated to be operational within the next nine months.

IBC has partnered with Mahanagar Gas Limited to develop the manufacturing plant, which will be located in the KIADB ITIR industrial area in Devanahalli, near the Foxconn facility.

Currently, IBC manufactures battery cells in South Korea and imports them for assembly in India, but the new factory will enable local cell production for the first time in the country.

At the foundation stone-laying ceremony, Minister M B Patil emphasized the importance of the facility, noting that 20% of the factory’s battery production will be exported to the United States and Europe.

"This manufacturing facility will reduce dependence on imports from China and provide a significant boost to the state’s economy," Patil said.

The new plant will also supply batteries for a range of vehicles, including two-wheelers, three-wheelers, and other electric vehicles.

Patil outlined the broader vision, stating, “The IBC gigafactory is a milestone in our push towards building a sustainable, technology-driven, and green economy. It will help establish Karnataka as a global leader in energy sector research."