Japanese joint venture Automotive Electronics Power Private Ltd (AEPPL) will invest Rs37.15 billion ($517 million) in the second phase of its lithium-ion battery production facility at Hansalpur, in the Ahmedabad district of the state of Gujarat, according to a report in Indian financial daily newspaper Mint.
The joint venture set up by Suzuki Motor, Toshiba and Denso will commit the investment over the 2021-25 period, following a first-phase outlay of Rs12.5 billion to finance production lines for battery packs and modules by the end of the year. AEPPL aims to expand plant output to 30 million cells per year by 2025.
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