US-based International Battery Company (IBC) has announced plans to establish lithium-ion gigafactory in Karnataka. The project is expected to see an initial investment of ₹390 crore and is anticipated to create 300 direct jobs.

IBC has partnered with Mahanagar Gas Limited to set up the manufacturing facility. Currently, IBC manufactures battery cells in South Korea and imports them to India for assembling complete batteries. The facility is expected to be operational within the next nine months.

Speaking at the foundation stone-laying ceremony, Minister M B Patil highlighted the significance of the unit, stating, “This manufacturing facility, located in the KIADB ITIR industrial area in Devanahalli, will export 20 per cent of its battery production to the United States and European countries. Further, it will boost the state’s economy and reduce dependence on imports from China,” he added.

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10 acres of land

He added, “Our government has allocated 10 acres of land for the IBC unit, which will be located near the Foxconn facility. Batteries will be manufactured here and distributed both domestically and internationally.”

Patil explained that once the plant becomes operational, cell production will take place locally, making it the first cell manufacturing facility in the country. The factory will eventually supply batteries for two-wheelers, three-wheelers, and other vehicles, he added.

He emphasised, “We aim to build a sustainable, technology-driven, and inclusive economy while promoting the use of green energy. The IBC giga factory is a milestone in this transformation. It will position the state as a global leader in energy sector research.”