GFCL EV Products to invest Rs 6K-cr in 4-5 yrs
image for illustrative purpose
New Delhi: Gujarat Fluorochemicals arm GFCL EV Products on Wednesday announced an investment of Rs 6,000 crore for increasing production capacity of electric vehicle battery materials in the next 4-5 years.
The company is poised to enter high-demand regions of the US, Europe and India, according to a statement. The company has already initiated long-term tie-ups with renowned global customers, underscoring the confidence in its capabilities and offerings, the statement said. "GFCL EV Products (GFCL EV), a 100 per cent subsidiary of Gujarat Fluorochemicals...announced investment of Rs 6,000 crore (out of which approx. Rs 650 crore is already invested till December 31, 2023) over the next 4-5 years," it stated.
"GFL's visionary investment and unwavering commitment to innovation highlight our pivotal role in shaping the future of the EV and ESS (Energy Storage System) battery industry," Vivek Jain, Chairman of INOXGFL Group, said in the statement. The company's current product portfolio includes electrolyte salts LiPF6, additives, electrolyte formulations, cathode active materials such as LFP and cathode binders such as PVDF and PTFE along with a specialized offerings of NaPF6 for sodium ion batteries.
