Epsilon Group has announced a significant ₹15,350 crore investment in Karnataka to develop a state-of-the-art EV battery manufacturing and research facility. This initiative, undertaken in collaboration with the Government of Karnataka (GoK), was formalized through a Memorandum of Understanding (MoU) signed at the Invest Karnataka Summit in Bengaluru. The project is set to play a pivotal role in strengthening India’s electric vehicle (EV) ecosystem by enhancing the domestic supply chain and reducing reliance on imports.
As part of the expansion, Epsilon Advanced Materials and Epsilon CAM Pvt Ltd will focus on manufacturing high-performance Graphite Anode and Lithium Iron Phosphate (LFP) Cathode materials, essential components in EV batteries. Additionally, Inspire Energy Research Center Pvt Ltd will spearhead R&D, testing, and training initiatives, ensuring that India remains at the forefront of battery technology innovation.
Strategic Investment to Foster Growth and Self-Reliance
Epsilon’s investment plan includes:
- ₹9,000 crore allocated for a Graphite Anode manufacturing plant
- ₹6,000 crore dedicated to an LFP Cathode manufacturing plant
- ₹350 crore for the development of a battery materials R&D and testing center
This large-scale investment supports Karnataka’s vision of becoming a leading energy transition hub, making the state a key destination for battery materials production. By enabling higher Domestic Value Addition (DVA), the initiative will significantly boost India’s self-reliance in battery technology, reducing dependence on imports from countries like China.
Driving Innovation, Employment, and Sustainability
The establishment of these facilities is expected to create thousands of job opportunities, fostering economic growth and advancing sustainable manufacturing practices in India. Speaking on the company’s vision, Vikram Handa, Managing Director of Epsilon Group, emphasized the importance of self-sufficiency in battery materials and the role of technology-driven solutions in India’s EV revolution.
By producing 100% DVA for anode materials and 60% for cathode materials, Epsilon Group is ensuring supply chain localization while providing high-performance materials to Indian battery manufacturers. The initiative will enhance energy security, reduce import dependency, and position India as a major global battery hub, accelerating the country’s journey toward a cleaner, more sustainable future.
