A Memorandum of Understanding (MoU) was signed by the Karnataka government and the US-based International Battery Company (IBC) to establish a recyclable lithium-ion battery manufacturing facility in the state for an investment of Rs. 8,000 crores (USD 1 Bn).
In the presence of Minister of Large and Medium Industries MB Patil, IBC India Pvt. Ltd. President Venkatesh Valluri and Principal Secretary for Department of Commerce and Industries Selvakumar signed and exchanged the MoU. The corporation would build the unit on a 100-acre plot of land in the Bengaluru Rural area, according to Minister MB Patil.
A Memorandum of Understanding (MoU) was signed by the Karnataka government and the US-based International Battery Company (IBC) to establish a recyclable lithium-ion battery manufacturing facility in the state for an investment of Rs. 8,000 crores (USD 1 Bn).
In the presence of Minister of Large and Medium Industries MB Patil, IBC India Pvt. Ltd. President Venkatesh Valluri and Principal Secretary for Department of Commerce and Industries Selvakumar signed and exchanged the MoU. The corporation would build the unit on a 100-acre plot of land in the Bengaluru Rural area, according to Minister MB Patil.
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