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.
Popular content
For the full story, please visit our pv magazine India site.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.